A summary of this decision is published in all EU languages in the Official Journal of the European Union. Upon exit, Solvay would receive a final exit price payment of €335 million. Brussels, March 16, 2016 --- Solvay and INEOS today announce their intention to end their 50/50 chlorovinyls INOVYN joint venture earlier than originally foreseen, with INEOS to become the sole shareholder. Most recently Ineos announced a joint venture with Solvay bringing together their European polyvinyl chloride businesses. Solvay and INEOS founded Inovyn in June 2014 to pool both chemical concerns’ expertise in chlorovinyls production. Thereafter, INEOS will be the sole owner of the business. Solvay and INEOS formed INOVYN in July 2015, with Solvay's exit originally planned in July 2018. ... | … Knightsbridge. This follows Commission approval of International Chemical Investors Group’s (ICIG) acquisition of the remedy business that is being divested by INEOS as a condition of clearance. Article 8(2) Regulation (EC) 139/2004 . Related Companies Solvay serves diversified global end markets, including automotive and aerospace, consumer goods and healthcare, energy and environment, electricity and electronics, building and construction as well as industrial applications. We use cookies to make sure you get the most from our website. Solvay received upon closing an upfront cash payment of €150 million – subject to customary adjustments such as actual working capital levels. UK. It generated pro forma net sales of € 12.4 bn in 2015, with 90% made from activities where it ranks among the world’s top 3 players. Governance of INOVYN is shared between INEOS and Solvay, with equal representation on the Supervisory Board. Ineos and Solvay on July 1, 2015 announced the start-up of their joint venture Inovyn, a manufacturer of chlorovinyls, following European Commission approval. Governance of the Joint Venture is equally split between the partners. The joint venture is expected to be effective by year-end following the divestments required by the European Commission. The combination, formed on 1 July 2015, has created a PVC producer that ranks among the top three worldwide. INEOS is a global manufacturer of petrochemicals, speciality chemicals and oil products. INOVYN Manufacturing Belgium SA Rue Solvay 39 5190 Jemeppe-sur-Sambre Belgium Phone: +32 71 26 81 11 INOVYN Belgium NV D631 Scheldelaan 600 2040 Antwerpen/ Zandvliet Belgium INEOS and Solvay formed INOVYN as a 50/50 Joint Venture in July 2015, with Solvay's exit originally planned for July 2018. “Thanks to the fast and efficient integration of its teams and assets, Inovyn is now a sound and sustainable chlorovinyls player. It will builds on the strengths of the companies' industrial assets, team skills and regional complementarity to enhance competitiveness. It comprises 15 businesses each with a major chemical company heritage. Solvay and INEOS announce the start-up of their Joint Venture INOVYN, a world-class competitive player in chlorovinyls, following European Commission approval. Led by INOVYN, INEOS has today launched a new Clean Hydrogen Business to accelerate Europe's drive to … The finished products will be shipped to clients worldwide from the port of Antwerp. Bruxelles, le 1er juillet 2015 --- Solvay et INEOS annoncent le démarrage de leur co-entreprise INOVYN, un acteur compétitif de taille mondiale dans les chlorovinyls, constituée après le feu vert de la Commission européenne. Inovyn will pool Solvay and Ineos's European assets across the entire chlorovinyls chain: PVC, the world's third most-used plastic, caustic soda and chlorine derivatives. “I want to thank all the teams involved for their commitment in making this happen and I wish the very best to all the employees who begin a new adventure with INOVYN and will ensure its success”. Chlorovinyls businesses are core to large petrochemicals companies such as ours and through this planned acquisition INOVYN will have an owner with a long term vision that provides stability for its business and employees,” comments Jim Ratcliffe, Chairman of INEOS. Solvay contributed its vinyl activities, formerly part of SolVin, to INOVYN. Brussels, July 1st, 2015 --- Solvay and INEOS announce the start-up of their Joint Venture INOVYN, a world-class competitive player in chlorovinyls, following European... | November 29, 2020 INOVYN is a 50/ 50 Joint Venture that combines the respective chlorvinyls activities of INEOS and Solvay. Brussels/Belgium – Solvay and Ineos formed Inovyn in July 2015, with Solvay's exit originally planned in July 2018. Belgium-based chemical company Solvay is planning to make an early exit from its 50/50 chlorovinyls joint venture (JV), called Inovyn, with Ineos, allowing the latter to become the only shareholder. On March 31, 2016, Solvay and INEOS announced they had signed the binding agreement to end their Inovyn chlorovinyls joint venture, following their intentions announced on March 16, 2016. Solvay serves diversified markets, generating 90% of its turnover in activities where it is one of the top three worldwide. INEOS products make a significant contribution to saving life, improving health and enhancing standards of living for people around the world. Solvay and INEOS formed Inovyn in July 2015, with Solvay's exit originally planned in July 2018. In May 2013 INEOS and Solvay announced the strategic intent to combine their respective European chlorvinyls activities in a proposed 50-50 Joint Venture. Upon exit, Solvay would receive a final exit price payment of €335 million. "The Inovyn joint venture combines two businesses with a strong heritage in the chlorovinyls industry, creating a company fit to thrive in an ever changing business environment. Solvay and INEOS formed INOVYN in July 2015, with Solvay's exit originally planned in July 2018. INEOS has today completed its acquisition of the full shareholding in INOVYN, which brings to an end Solvay’s part interest in the Company. See all our local websites | Our Worldwide Presence, 沪ICP备15007541号-5 | 沪公网安备 31011202001085号, Solvay and INEOS sign binding agreement on Solvay's exit from INOVYN joint venture, Solvay completes exit of INOVYN joint venture, Solvay and INEOS obtain European Commission clearance for creation of INOVYN joint venture. Until completion, Solvay and Ineos will … The Group is firmly committed to sustainable development and focused on innovation and operational excellence. Brussels, July 1st, 2015--- Solvay and INEOS announce the start-up of their Joint Venture INOVYN, a world-class competitive player in chlorovinyls, following European Commission approval. In May 2013 INEOS and Solvay announced the strategic intent to combine their respective European chlorvinyls activities in a proposed 50-50 Joint Venture. Solvay is headquartered in Brussels with about 30,000 employees spread across 53 countries. Inovyn’s London-based management chose Antwerp because of its excellent export location. INEOS is a Registered Trademark, the property of INEOS Capital Limited. Solvay SA (SOLB.BE) is listed on Euronext in Brussels and Paris (Bloomberg: SOLB:BB - Reuters: SOLB.BR). In three years' time, Solvay will exit INOVYN and receive an additional, performance-based payment targeted to be €280m, with a minimum of €95m. Also effective July 1st, Solvay is buying BASF’s 25% stake in its PVC Joint Venture SolVin*. Solvay and INEOS announce the start-up of their Joint Venture INOVYN, a world-class competitive player in chlorovinyls, following European Commission approval. Headquartered in London, INOVYN has pro-forma sales of more than €3 billion, with 4,300 employees and assets across 18 sites in Belgium, France, Germany, Italy, Norway, Spain, Sweden and the UK. Ineos' growth has continued through this period, expanding production in the US and China. Ineos and Solvay on July 1, 2015 announced the start-up of their joint venture Inovyn, a manufacturer of chlorovinyls, following European Commission approval. "INEOS is very comfortable with the proposed early acquisition of the full shareholding of the INOVYN joint venture. All rights reserved. After forming Ineos in July last year, Solvay was originally planning to … Its network spans 65 sites in 16 countries throughout the world. INEOS products make a significant contribution to saving life, improving health and enhancing standards of living for people around the world. Brussels, July 1st, 2015--- Solvay and INEOS announce the start-up of their Joint Venture INOVYN, a world-class competitive player in chlorovinyls, following European Commission approval. Its production network spans 194 sites in 29 countries throughout the world. REGULATION (EC) 139/2004 . Solvay and INEOS formed INOVYN in July 2015, with Solvay`s exit originally planned in July 2018. Meanwhile, Solvay is buying BASF's 25 per cent stake in its PVC joint venture SolVin. Its businesses produce the raw materials that are essential in the manufacture of a wide variety of goods: from paints to plastics, textiles to technology, medicines to mobile phones - chemicals manufactured by INEOS enhance almost every aspect of modern life. In three years’ time, Solvay will exit INOVYN and receive an additional, performance-based payment targeted to be €280 million, with a minimum of €95 million. "The Inovyn joint venture combines two businesses with a strong heritage in the chlorovinyls industry, creating a company fit to thrive in an ever changing business environment. It comprises 15 businesses each with a major chemical company heritage. "The INOVYN Joint Venture combines two businesses with a strong heritage in the chlorovinyls industry, creating a company fit to thrive in an ever changing business environment," said Jim Ratcliffe, Chairman of INEOS. The combination, formed in July 2015, has created a PVC … An international chemical and advanced materials company, Solvay assists its customers in innovating, developing and delivering high-value, sustainable products and solutions which consume less energy and reduce CO2 emissions, optimize the use of resources and improve the quality of life. Inovyn, the vinyls producer now wholly owned by Ineos, has decided to invest in a new cellroom at Cologne, Germany to produce chlorine and caustic soda.Chlorine output will be sold mainly to sister company Ineos Oxide, while caustic soda output will be sold on the open market. INOVYN is a 50/ 50 Joint Venture that combines the respective chlorvinyls activities of INEOS and Solvay. Solvay and INEOS create INOVYN, a leading chlorovinyls producer. This website is published by INEOS on behalf of its businesses. Solvay and INEOS received final approval today from the European Commission to form their 50/50 Chlorvinyls Joint Venture, to be known as INOVYN. The companies have signed a letter of intent to combine their European chlorvinyls activities, to create a leading PVC production company. Brussels, March 19, 2015 --- Solvay and INEOS have reached an agreement with International Chemical Investors Group (ICIG) to acquire the assets being divested by INEOS.This agreement, which follows extensive discussions with the European Commission in the context of the merger control review of INOVYN(TM), is a key step towards the completion of the INOVYN(TM) project. INEOS and Solvay announce the start up of their Joint Venture INOVYN. *SolVin: JV between Solvay (75%) and BASF (25%). August 2015 International Chemical Investors Group (ICIG) today announced the completion of its acquisition of certain chlorvinyls assets being divested by INOVYN, the PVC joint venture between INEOS and Solvay. This allows us to bring forward Solvay’s exit and to further focus on its portfolio transformation, while achieving a first step in de-leveraging the balance sheet,” said Jean-Pierre Clamadieu, CEO of Solvay. INEOS and Solvay formed INOVYN as a 50/50 Joint Venture in July 2015, with Solvay's exit originally planned for July 2018. INEOS | 112,990 followers on LinkedIn. Need to know more? PRESS RELEASE. Date: 08/05/2014 . Day to day management of the business is by the Executive team below. Financial details are not disclosed. Upon exit, Solvay would receive a final exit price payment of €335 million. Brussels, July 7, 2016 --- Solvay has today completed the divestment of its shareholding in INOVYN, bringing to an end its chlorovinyls joint venture with INEOS. In addition to contributing their entire European chlorovinyl business Solvay has transferred liabilities estimated at €260 million into the Joint Venture. Ineos's heritage is in a number of well-known blue chip chemical companies. Copyright © 2020. 1. Brussels , July 1 st , 2015 --- Solvay and INEOS announce the start-up of their Joint Venture INOVYN, a world-class competitive player in chlorovinyls, following European Commission approval. Solvay SA SOLB.BE) is listed on Nyse Euronext in Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLBt.BR). After this point, INEOS will be the sole owner of the business. Inovyn, a joint venture of Ineos and Solvay, has announced it is planning a major investment in a large scale potassium hydroxide (KOH) production facility at its Antwerp/Lillo site, Belgium. As an international chemical group, SOLVAY assists industries in finding and implementing ever more responsible and value-creating solutions. INOVYN is a 50-50 Joint Venture that combines the respective chlorvinyls activities of INEOS and Solvay. Headquarters: 38 Hans Crescent. Financial details are not disclosed. Its production network spans 51 manufacturing facilities in 11 countries throughout the world. | INEOS is a global manufacturer of petrochemicals, specialty chemicals as well as Oil & Gas. This text is made available for information purposes only. "This is now truly a world scale business, well placed to respond rapidly to customer needs in a challenging, competitive market.". However, as of 07 July 2016, the companies completed works ahead of schedule after final regulatory clearances were granted. In addition, a membrane chlorine plant at Runcorn is to be placed in a 50/50 joint venture between ICIG and Inovyn, the joint venture formed by Ineos and Solvay last year. London SW1X 0LZ. INEOS is a global manufacturer of petrochemicals, speciality chemicals and oil products. The word for chemicals. “Solvay’s transformation has reached a key milestone with the creation of INOVYN and we will continue to focus on increasing its growth, returns and resilience,” said Jean-Pierre Clamadieu, CEO of Solvay. "Thanks to the fast and efficient integration of its teams and assets, INOVYN is now a sound and sustainable chlorovinyls player. “Thanks to the fast and efficient integration of its teams and assets, INOVYN is now a sound and sustainable chlorovinyls player. Site designed and developed by The MTM Agency. It comprises 36 businesses each with a major chemical company heritage. Its businesses produce the raw materials that are essential in the manufacture of a wide variety of goods: from paints to plastics, textiles to technology, medicines to mobile phones - chemicals manufactured by INEOS enhance almost every aspect of modern life. The finalized terms of the Joint Venture agreement remain materially unchanged from those announced in June last year. Closing of the transaction is likely to occur in the second half of 2016, subject to finalizing definitive legal agreements and customary regulatory approvals. INEOS is a global manufacturer of petrochemicals, speciality chemicals and oil products. “Solvay’s transformation has reached a key milestone with the creation of INOVYN and we will continue to focus on increasing its growth, returns and resilience,” said Jean-Pierre Clamadieu, CEO of Solvay. Solvay and Ineos have signed a definitive agreement to create a new player in chlorovinyls, to be named Inovyn. Brussels, March 31, 2016 --- Solvay and INEOS have signed the binding agreement to end their chlorovinyls INOVYN joint venture, following their intentions announced on March 16. The group is headquartered in Brussels, employs about 29,000 people in 55 countries and generated 12.4 billion euros in net sales in 2012. In addition, Solvay and INOVYN have agreed to continue supplying basic chemicals to the BASF site in Antwerp. Upon exit, Solvay would receive a final exit price payment of €335 million. Solvay and INEOS have started their chlorovinyls joint-venture (JV), called Inovyn, following the approval from the European Commission (EC). CASE M.6905 – INEOS/ SOLVAY/ JV (Only the English text is authentic) MERGER PROCEDURE . Brussels, March 16, 2016 --- Solvay and INEOS today announce their intention to end their 50/50 chlorovinyls INOVYN joint venture earlier than originally foreseen, with INEOS to become the sole shareholder. The combination, formed in July 2015, has created a PVC …
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