Automotive OEM supplier Plastic Omnium (Levallois / France; www.plasticomnium.com) plans to take full ownership of its Inergy Automotive Systems (Paris / France; www.inergyautomotive.com) joint venture with Solvay (Brussels / Belgium; www.solvay.com). Inergy Automotive Systems, owned 50:50 by Plastic Omnium and Solvay, is a supplier of integrated fuel tank systems. It employs 4,000 people worldwide and is expected to generate sales of EUR 1.1 bn in 2010, Plastic Omnium said. In 2009, the jv recorded sales of EUR 900m.

Plastic Omnium and Solvay have signed a non-binding memorandum of understanding and said they expect to reach an agreement on the transaction in the coming months. Financial details were not disclosed.

Jacques van Rijckevorsel, Solvay’s general manager for plastics, said the sale of its 50% stake in Inergy Automotive Systems “will simplify our product portfolio and allow the group to even better focus on its strategic targets and businesses". A company spokesman told Plasteurope.com that the sale would go hand in hand with a reorientation in Solvay's activities in the automotive field. In future, the Belgian group will focus on its Speciality Polymers division (including "Amodel" PPA, "Ketaspire" PEEK and "Radel" PES).

Plastic Omnium said that acquiring full control of Inergy Automotive Systems would strengthen its position as a key player in reducing automotive emissions.