14 October 2005, Press release
Finnplast Oy acquires PVC operations from
Dynea Chemicals Oy
The transaction between Finnplast Oy and Dynea Chemicals Oy regarding sale and transfer of Dynea Chemicals Oy’s PVC production plant in Porvoo has been finalized on the October 13, 2005.
The annual capacity of Porvoo PVC plant is 100 000 tons of PVC resin and 15 000 tons of compounds. The plant employs some 90 persons mainly in production and technical service.
“Purchasing of the Porvoo PVC plant is fully in accordance with our strategy at IPCG – be a player on selected markets with own assets and distribution system. Finnplast now realize this strategy as a dynamic company with its own production and product development capabilities”, tells Pavel Kalugin, CEO of IPCG. “We are happy that we have been able to sell the PVC operations to an industrial owner who is ready to develop the operations further on”, says Roger Carlstedt, President and CEO of Dynea.
Finnplast Oy is a fully owned subsidiary of International Petrochemical Group S.A., Luxembourg. IPCG is a trading and distribution company with head office in Geneva (Switzerland) and representative offices in Helsinki, Amsterdam, Warsaw, Istanbul, Dubai and Moscow. IPCG’s turnover in 2004 was 280 million USD and 500 000 Mt of different products.
Dynea is a global provider of superior adhesion and surfacing solutions. In 2004, Dynea had combined revenues of EUR 1.1 billion. With 54 production units in 26 countries in Europe, the Americas and Asia Pacific, Dynea has some 3,100 employees. Visit our Internet web sites at http://www.dynea.com to learn more about our operations.
For more information, please contact:
International Petrochemical Group:
Pavel Kalugin, CEO, IPCG S.A., tel. 7 916 166 3162
Petri Barannik, Chairman, Finnplast Oy, tel. 358 40 900 3900
Jyrki Hakola, CEO, Finnplast Oy, tel. 358 50 385 2556
Dynea: Kyösti Siltala, General Counsel, Dynea Oy, tel. 358 50 385 2039