19 March 2008
Perstorp have entered exclusive negotiations for the acquisition of a specialty chemicals business, today owned by Rhodia and LyondellBasell.
Perstorp’s intention is to take over Rhodia’s production, development and marketing of aliphatic isocyanates (HDI, IPDI and derivatives) supplying a range of intermediates for industrial paints and coatings. Included in the discussions is also the business within aromatic isocyanates (TDI), owned by LyondellBasell supplying intermediates for polyurethane foams.
These activities are essentially based in Pont-de-Claix (France) and in Freeport, Texas (US) and together employ around 680 people.
The objective of the negotiations is to finalize the acquisition in the next few months, once consultations with employees’ representatives have been completed and the necessary authorizations required by law have been obtained.
Rhodia is an international chemical company and leader in its businesses. 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.
LyondellBasell Industries is one of the world’s largest polymers, petrochemicals and fuels companies. The company is a merger between Lyondell Chemicals Company and Basell Polyolefins since December 2007.