Solvin Sells Shut Down VCM and PVC Facilities to Trust Chemical Industries, Egypt

Solvin decided to close down their manufacturing facilities in December 2005 and appointed Industrial Asset Management LLC,a US company to locate a buyer for the plants for relocation to another part of the world. TCI from Egypt has signed a purchase agreement with Solvin on March 7,2007 at Ludwigshafen, Germany.

Princeton Jct, NJ (PRWeb) March 11, 2007 -- rust Chemical Industries (TCI) signed an agreement with Solvin to purchase the 180 KT/Year PVC and 160 KT/year VCM facilities for relocation from Ludwigshafen, Germany to Port Said, Egypt.

TCI has a caustic soda plant based on membrane technology with a capacity of 200,000 tonnes per annum, which started operations a little over a year ago and are now putting up EDC,VCM and PVC manufacturing plants at the same location. The sales and Purchase agreement was facilitated by Industrial Asset Management, a leading US company in the business of trading in used process plants. IAM was hired by Solvin to locate a buyer for these plants which were shut down in December 2005.

Chemplast Sanmar is acquiring the entire chemicals business of TCI from Mr. Ismail M. Ismail who presently owns 100% of the company. This acquisition is a strategic move for Chemplast for assured and cost-effective raw material supplies to its Indian operations.

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