Progress is continuing apace for the creation of Inovyn (London / UK), a new global chlorvinyls player commonly owned by Ineos (Rolle / Switzerland; www.ineos.com) and Solvay (Brussels / Belgium; www.solvay.com). After having announced in March that the so-called “remedy business” – consisting of Ineos’ assets in Tessenderlo / Belgium (chlorine and ethylene dichloride), Mazingarbe / France (PVC), Beek / The Netherlands (PVC), Wilhelmshaven / Germany (PVC) and Runcorn / UK (chlorine and ethylene dichloride) – will be sold to private industrial holding International Chemical Investors Group (ICIG, Luxembourg; www.ic-investors.com) – see Plasteurope.com of 20.03.2015 – the two joint venture partners have now received final approval from the European Commission.

Solvay and Ineos said they will proceed with final preparations to launch Inovyn on 1 July. The London-based group will have pro-forma sales of more than EUR 3 bn, and will be managed by a supervisory board consisting of an equal number of representatives from both companies. Ineos will be contributing Inovyn CEO-designate Chris Tane as well as Mike Maher and Julie Taylorson, who will serve as CFO and procurement director respectively, while Solvay’s management members will include future business director Filipe Constant, operations director Jean-Michel Mesland as well as general counsel Otto Grolig.