KEM ONE position : the management team is determined to find a solution

At the request of its chairman and shareholder Gary Klesch, KEM ONE SAS has been put into receivership. Following the ruling of the Commercial Court of Lyon, which formally opened the proceedings, the KEM ONE management team is determined to find sustainable solutions with its historical stakeholders Arkema and Total, that will allow the business to continue to operate.

In view of the financial position of KEM ONE SAS, Gary Klesch, chairman and shareholder of KEM ONE, filed for a state of insolvency for the company with the Commercial Court of Lyon. On Wednesday 27 March, the Commercial Court of Lyon gave judgement, opening formal receivership proceedings. It appointed an official receiver, who will be in charge of the administration of the entire company. The company will continue to operate as normal during these proceedings.

Given the industrial, economic and social factors at stakes for the petrochemical and chemical sector in France, the KEM ONE management team is confident in the commitment of both its former shareholder Arkema – who agreed to divest its vinyl branch to the Klesch group in July 2012 – and its main supplier Total to find sustainable solutions for its activities, with the full support of the French government.

KEM ONE SAS includes the company’s upstream sites in France: 1300 people based at the headquarters (Lyon) and 7 industrial sites : Balan (Ain), Saint-Fons (Rhône), Saint-Auban (Alpes de Haute Provence), Berre, Fos-sur-Mer, Lavéra (Bouches du Rhône) and Vauvert (Gard).

Source: KEM ONE