Opportunity to invest in the Largest European Phthalic Anhydride Unit

Oostende 23/10 - Proviron will divest all or part of its Phthalic Anhydride and Phthalates business at Ostend, Belgium. The divestment decision is part of Proviron's strategy to reposition its resources and developments towards product lines within the functional chemicals family. The Phthalic Anhydride plant has a nameplate capacity of 105 ktpa. The integration of the plant with an industrial partner that holds a leading position in the related chemical markets will make it possible to create a market position of significant value in Europe.

Proviron is a Belgian private chemical company. Board member Walter Vissers leads the divestment project. A new company will be created, Proviron Basic Chemicals (PBC), which will include all related business assets and organisational structures. Raf Jacxsens has been appointed as CEO of PBC.

Proviron's strategy is to focus on functional chemicals product lines. These create the opportunity to realize higher added value within chosen niche market segments and are less capital intensive. Proviron is a technically driven company focussed on concept design, process engineering, technology issues and an in-depth understanding of the process chemistry involved. This leads to economy of scale advantages and high raw material/energy yields. Proviron has a multi-disciplinary staff in place, which acts as a flexible and reliable interface for niche plasticizers, specialty esters and functional sulfonates.

Contact: Dr Walter Vissers, Walter.Vissers@Proviron.com, tel +32 477 61 98 94