The polymers business will become part of a Intermediates Products Division

The polymers business will become part of a Intermediates Products Division

Atofina is to spin off its PVC, acrylics, engineering polymers and plastic additives businesses under a restructuring programme currently being proposed. The businesses will become part of a Chlorochemicals, Intermediates and Performance Products division that has a proforma turnover of around E5bn.

The new concern, to be led by Thierry Le Henff, will hold 13 businesses, many of them market leaders. The group is a major European player in PVC and claims the number three slot worldwide in both acrylics and PMMA – through its Atoglas business – and in engineering polymers, where its portfolio includes Rilsan nylon 11 and 12 Pebax TPE.

Atofina said the decentralisation plan reflects “a difficult environment”. It said the new business would have the opportunity to play an active role in the consolidation of the chemical industry. It will “aim to become a competitive and independent actor”.

Atofina’s UK operation is included in the plans. Its petrochemicals business comprising styrene, polystyrene, polyethylene and polypropylene, will be based at a new sales office in Stalybridge. The Chlorochemicals, Intermediates and Performance Products business will be centred on the existing sales office at Solihull where a new separate head office for these activities would be established.