1 July 2005, Press release
Finnplast Oy acquires PVC operations from
Dynea Chemicals Oy
Finnplast Oy, a fully owned subsidiary of International Petrochemical Group S.A., Luxembourg, and Dynea Chemicals Oy have today signed the Sale and Purchase Agreement regarding Dynea Chemicals Oy’s PVC production plant in Porvoo.
The transaction is expected to close by the end of August 2005.
PVC materials have been produced at Porvoo since 1972, first under Pekema name and thereafter by Neste Chemicals and Dynea Chemicals. During the last six years the plant has produced PVC for Shin-Etsu under a toll production agreement. 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.
International Petrochemical Group S.A. (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. IPCG represents several product groups of LUKOR / LUKoil-Neftekhim in Europe, including VCM from the Kalush (Ukraine) plant.
Dynea in brief
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 3,200 employees.
Visit our Internet web sites at http://www.dynea.com to learn more about our operations.
For more information, please contact:
Pavel Kalugin, CEO, IPCG S.A., tel. +7 916 166 3162
Petri Barannik, Chairman, Finnplast Oy, tel. +358 40 900 3900
Jyrki Hakola, General Manager, Dynea Chemicals Oy, tel. +358 50 385 2556
Kyösti Siltala, General Counsel, Dynea Oy, tel. +358 50 385 2039