In the third European PVC surprise in as many weeks, Shell Chemicals (GB-London) and Akzo Nobel (NL-6800 AB Arnhem) have signed a letter of intent to sell their PVC manufacturing joint venture Rovin NV to Shin-Etsu. The Japanese group is one of the world's largest PVC producers, with plants in the US and a small facility in Europe in addition to its home base. Acquisition of Rovin would give it 2.75m t/y of global capacity. The Shell group already uses Shin-Etsu technology.

Along with Rovin's PVC polymerisation at Pernis and its VCM plant at Botlek, both in The Netherlands, Shin-Etsu also plans to buy Shell's 60% stake in the VCM joint venture with Elf Atochem at Fos sur Mer and its wholly owned PVC facility at Berre, both in France. Pipe manufacturer Wavin BV and bottle compounder Dorlyl, both in The Netherlands, are not part of the envisaged deal.

EVC International NV had been moooted as the likely buyer of Rovin before the announcement of its now defunct deal with Norsk Hydro. EVC is still Europe's largest player by far, ahead of the planned BASF-Solvay jv (see Plasteurope.com No. 19, 1998), which will become the market's number two if it goes ahead as planned. Elf Atochem is in third place.