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Article: Norway's Ineos secures Norsk Hydro's PVC unit.(News)

Article from:
Plastics News
Article date:
June 4, 2007
Copyright

Byline: Plastics News Report

Ineos Capital Ltd. is shelling out 670 million euros - about $900 million - to acquire the PVC unit of Norsk Hydro ASA. It's the fourth time in less than three years that Lyndhurst-based Ineos has made a major plastics deal.

"This is an important acquisition for Ineos,'' Jim Ratcliffe, Ineos' chief executive, said in a news release. "Hydro's polymers business has a very good strategic fit with the Ineos portfolio.''

The deal with Oslo, Norway-based Norsk Hydro is expected to close in the third quarter of 2007. The unit - doing business as Kerling ASA - employs 1,200 at plants in Norway, Sweden and the United ...

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