Mar 12 2007
Trust 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 fecilitated by Industrial Asset Management, a leading US company in the 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.