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Article: RP: the view after privatization. (Rhone-Poulenc SA) (Country Focus: France)
- Article from:
- Chemical Week
- Article date:
- April 27, 1994
- Author:
CopyrightCOPYRIGHT 1994 Access Intelligence, LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The major event in the French chemical industry in the past year was the privatization of its biggest company, F81-billion/year Rhine-Poulenc (RP). Vice chairman Jean-Marc Bruel says the government's sale in 1993 of 10%, then 43% of RP will bring no change to the strategy of refocusing its portfolio while reducing its F24-billion debt.
Most of the refocusing process has been completed since 1989. Last year RP made F6 billion worth of divestments and created four joint ventures worldwide--but there is more to come. "We have divested the weakest parts of RP," says Bruel, "but there are still some activities where we don't know whether to remain or ...