Solvay and INEOS address EC concerns

With the earlier decision of the European Commission (EC) to continue its evaluation of the proposed 50/50 Joint Venture between Solvay and INEOS in a Phase II investigation, the two companies submitted a revised remedy package addressing any competition concerns that have been raised by the Commission.  

The proposed remedy package includes the divestment of the PVC plants at Schkopau (Germany), Beek (The Netherlands) and Mazingarbe (France) along with the chlor-alkali, EDC and VCM assets at Tessenderlo (Belgium).  These facilities are all currently operated by INEOS and are strategically important within the European chemicals sector.  They have the ability to compete as successful stand-alone businesses under third party ownership. 

The European Commission will now consider this remedy proposal alongside any further market testing it wishes to undertake ahead of making a final decision.  Assuming such asset disposals are required to obtain Commission clearance this would be subject to full consultation with employees and their representatives.

Solvay and INEOS will continue to run their businesses separately until completion of the transaction, which is dependent on the above approvals and procedures.