PVC Europe Group, an independently managed investment subsidiary of Investindustrial Growth—an investment, holding, and advisory group—has signed a binding put option for the sale of the compounds business of Benvic Group (Dijon, France) to International Chemical Investors Group (ICIG; Frankfurt, Germany), subject to consultation with Benvic’s works council in France and to EU antitrust approval. Closing is expected toward the end of this year. Benvic’s medical activities in Italy are expected to be retained by Investindustrial.
The business being sold, Benvic Compounds, develops, produces, and markets “thermoplastic solutions” based on polyvinyl chloride (PVC), as well as engineering polymers and bio-polymer compounds. It has annual sales of about €500 million ($500 million) and is one of Europe’s leading PVC compounders in terms of volume as well as a leader in several specialty compounding applications in the US, Investindustrial says.
Investindustrial says that during its four-year ownership of Benvic, it has transformed the Benvic Compounds business “from a niche compounder” into “a global leader in thermoplastic solutions through a program of eight add-on acquisitions across Europe and the US.”
Benvic has completed an ESG-linked refinancing, which was one of the first of its type in the European market, according to Investindustrial.
Privately owned ICIG says that Benvic Compounds will form an additional polymers business within its portfolio. “As a global player in thermoplastic solutions and one of Europe’s leading PVC compounders, Benvic Group will become ICIG’s second polymers platform, next to chlorovinyls/Vynova,” says Achim Riemann, managing director of ICIG.
ICIG’s two other platforms are fine chemicals under the WeylChem brand and Enterprises, which comprises companies specialized in enzyme-based fermentation products, rayon filament, activated carbon, and wood protection chemicals. Subsidiaries of the Enterprises platform include Corden BioChem, ENKA, CarboTech, and Rütgers Organics.
By Ian Young
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?