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Rhodia and Lyondell Enter Into Exclusive Negotiations With Perstorp For the Sale of Their Isocyanates Businesses

Published on 2008-03-20. Author : SpecialChem

Paris -- Rhodia and Lyondell Chime TDI SCA have announced that they have entered into exclusive negotiations for the sale of their Isocyanates businesses to the Perstorp Group. This divestment project includes Rhodia's aliphatic Isocyanates activity (HDI, IPDI and derivatives) producing a range of intermediates for industrial paints and coatings; and Lyondell's aromatic isocyanates business (TDI) with the production of intermediates for polyurethane foams, operated under contract by Rhodia.

These activities are essentially based in Pont-de-Claix (France) and in Freeport (USA) and together employ around 680 people. The finalization of this divestment project should take place over the next few months, once consultations with the employees' representatives have been completed and the necessary authorizations required by law have been obtained.

About Rhodia:

Rhodia is an international chemical company resolutely committed to sustainable development. Leader in its businesses, the Group aims to improve its customers' performance through the pursuit of operational excellence and its ability to innovate. Now structured around six Enterprises, Rhodia is the partner of major players in the automotive, tire, electronics, perfume, health & beauty and home care markets. The Group employs around 15,500 people worldwide and generated sales of €5.1 billion in 2007. Rhodia is listed on Euronext Paris.

About Lyondell Chime TDI SCA:

Lyondell Chime TDI SCA is an affiliate of LyondellBasell Industries, one of the world's largest polymers, petrochemicals and fuels companies. LyondellBasell the global leader in polyolefins technology, production and marketing; a pioneer in propylene oxide and derivatives; a significant producer of advanced fuel products; and the owner of one of North America's largest full-conversion refineries. Headquartered in The Netherlands, LyondellBasell is privately owned by Access Industries.

About Perstorp Group:

Perstorp Group is a front-ranking player in the specialty chemicals industry. The Group is present, in particular, in the markets for Paints & Coatings, Plastics, Agro-food and Lubricants. Perstorp has approximately 2,000 employees on a dozen production sites in Europe, Asia, North and South America and runs 3 Research & Development centers in Sweden, Finland and India. The Group generated net sales of €928m in 2007.

Source: Rhodia


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