Manufacturing Industry
EVC, NORSK DROP PVC VENTURE.(EVC International NV and Norsk Hydro ASA scrap merger plans)
Plastics News, October, 1998 by Higgs, Richard
Europe's leading PVC producer, EVC International NV, and Norwegian oil and chemicals group Norsk Hydro ASA have ditched plans to merge their vinyl interests. The groups said they agreed to end negotiations started in July because of ``differences in strategic priorities and emphasis'' in planning the joint business.
The venture, with a 4 billion-pound-per-year capacity, would have been one of the world's top four PVC players. The aim was to bring together the greater part of Norsk Hydro's petrochemicals division with EVC in what both dubbed a ``merger of equals.'' Norsk was to hold a 45 percent stake in the PVC venture, to include EVC's downstream PVC compounding, rigid films and Indian film operations. However, Norsk Hydro of Oslo, Norway, wanted the...
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