Taking full ownership of EVC will lay path for restructuring plans

Ineos is to make an offer for the outstanding shares in PVC producer EVC International, a move that if successful will de-list EVC from the Euronext Amsterdam stock exchange.

Ineos currently holds 85.9% of all EVC shares and is making a cash offer of E3.50 a share to buy out minority shareholders. The share was today trading for around E3.80. EVC management has decided unanimously and unconditionally to recommend the proposed offer.

An Ineos spokesman said: “There is very little liquidity in EVC – it perhaps is the logical step.” He added that taking the company private would reduce costs and put Ineos in a better position to fund “innovative restructuring and investment plans”.

EVC manufactures vinyl chloride monomer, PVC resin, compounds, emulsions, suspensions, films and foils. The Ineos group has a E5bn turnover in speciality and intermediate chemicals, with 60 manufacturing plants in 16 different countries.