Home / Knowledge / News / Textiles / INEOS ChlorVinyls raises caustic soda price
INEOS ChlorVinyls raises caustic soda price
25
Sep '14
INEOS ChlorVinyls, which manufactures chemicals that are used in several industries including textiles, has announced that it would increase the price of caustic soda with effect from October 1, 2014.
 
“List prices for INEOS ChlorVinyls caustic soda are to increase by Euro 65 per dry metric tonne with effect from 1st October 2014,” the company said in a statement.
 
In June this year, INEOS and Solvay signed a definitive Joint Venture agreement covering their European chlorvinyls activities.  The Joint Venture - to be known as INOVYNTM - was given clearance by the European Commission a month earlier.
 
As per the agreement, Solvay will receive an up-front payment of €175 million at closing, and in addition to transferring their chlorvinyls assets into the Joint Venture, will also transfer €250 million of liabilities principally in respect of pensions and environmental liabilities.
 
Solvay will exit INOVYNTM after three years, leaving INEOS in sole control, when Solvay will receive additional cash proceeds targeted at €250 million (with a minimum payment of €75 million). This amount will be adjusted depending on the financial performance of INOVYNTM during the three year Joint Venture period.
 
To be headquartered in London, INOVYNTM will have proforma 2013 sales of more than €3 billion, with assets across 14 sites in Belgium, France, Germany, Italy, Norway, Spain, Sweden and the UK.
 
Until formation of the Joint Venture, which is expected during Q4 2014, INEOS and Solvay will continue to run their businesses separately. (RKS)
 

Fibre2fashion News Desk - India

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search