ＥＶＣ概要 　　　新社名　INEOS Vinyls　http://www.ineosvinyls.com/

With effect from 1 July 2005 EVC changes the name to INEOS Vinyls, INEOS Compounds and INEOS Films.

EVC took over the BSL PVC production facility at the Schkopau

Vestolit 　　EVC買収取りやめ

Ineosによる買収　　Ｉｎｅｏｓ買い増し（７５．３５％に）　

更に買い増し　Ineos extends offer deadline for EVC shares

Sale of EVC business to INEOS Vinyls Newco and liquidation of EVC

EVC asset sale to INEOS Vinyls ー completion of transaction

EVC International N.V. Name Change to INEOS Vinyls, INEOS Compounds, INEOS Films

　

　

　参考　Ineos:　ICI(MMA)買収　Phenolchemie買収

ＥＶＣ　　　http://www.evc-int.com/　

EVC is Europe's leading PVC manufacturer and a global leader in VCM/PVC technology. We operate major integrated sites across Europe and in India and employ about 3 300 people.
Our activities include the manufacture of EDC, VCM, PVC resins, compounds and rigid films and the development and licensing of the technologies associated with the key manufacturing processes.

History
EVC was formed in October 1986 as a joint venture comprising the VCM and PVC resin and compounds businesses of Italy’s EniChem and England’s ICI which were, at that time, Western Europe’s second and fourth largest PVC producers respectively.

In March 2001, the INEOS Group acquired a majority shareholding in EVC.

Our Businesses and products

EVC’s activities are vertically integrated through most of the PVC manufacturing chain and include the manufacture of EDC (ethylene dichloride), VCM (vinyl chloride monomer), suspension PVC (S-PVC), emulsion PVC (E-PVC), compounds, and rigid and packaging films.

BY PRODUCT 　 　 　 　 　 　 　 Registered Office 　 Compounds 　 1 Eijsden Netherlands 8 Argenta Italy 　 　 　 12 Frosinone Italy 　 Co-ordination Centre 13 Pavia Italy 2 Brussels Belgium 14 Porto Marghera Italy 　 　 　 18 Sins Switzerland 　 VCM 20 Helsby UK 7 Wilhelmshaven Germany 　 　 　 14 Porto Marghera Italy 　 Rigid Film  　 15 Porto Torres Italy 3 Bötzingen Germany  16 Ravenna Italy 5 Staufen Germany 22 Runcorn UK 11 Castiglione Olona Italy 　 　 　 23 Nasik India 　 S-PVC  　 24 Thane India 4 Schkopau Germany 　 　 　 7 Wilhelmshaven Germany 　 Packaging 　 14 Porto Marghera Italy 6 Weißandt-Gölzau Germany 16 Ravenna Italy 10 Cagliari  Italy 19 Barry UK 　 　 　 22 Runcorn UK 　 Inovyl 　 　 　 　 2 Brussels Belgium 　 E-PVC  　 7 Wilhelmshaven Germany 4 Schkopau Germany 14 Porto Marghera Italy 15 Porto Torres Italy 22 Runcorn UK 21 Hillhouse UK 　 　 　 The following figures were last updated on 08 June 2000. VCM/PVC

(21 MARCH 2001)　

EVC ANNOUNCES COMPLETION OF THE INEOS TRANSACTION
　　　http://www.evc-int.com/newsroom/pressreleases/20010321.htm

EVC announced today the completion of the transaction with INEOS which was first made public on 21 December 2000.

INEOS now owns 64.5% of the enlarged fully-diluted voting share capital of EVC.

(21 DECEMBER 2000)

EVC SIGNS CONDITIONAL AGREEMENT WITH INEOS
ON EURO 75 MILLION EQUITY INJECTION
　　　http://www.evc-int.com/newsroom/pressreleases/20001221.htm

EVC International NV and Ineos Capital Limited have signed a conditional agreement, whereby an Ineos affiliate proposes to subscribe for up to 18,750,000 newly-issued shares of EVC at a price per share in cash of Euro 4.00, representing Euro 75 million in aggregate, thereby potentially acquiring between 52.7% and 64.7% of the enlarged fully-diluted voting share capital of EVC.

European Chemical News　2000/10/23　

Venture Capital所有の VestolitがEVC買収交渉を続けていたが、取りやめとなった。理由はEVCの資金繰りと欧州塩ビ事業の業績悪化。Venture Capital側は塩ビ事業拡大の方向は変わらないとしている。

TAKEOVER
EVC's cash problems and uncertain markets cause Vestolit to withdraw

化学工業日報　2002/8/19　

イネオスキャピタル　ＥＶＣの株買い増し　出資比率７５％超へ

イネオス・キャピタルはＥＮＩグループの持つＥＶＣの２、３１３、９４０株を買い取る。現在の６９．０６％の出資比率は、これによって７５．３５％になる。

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The rest of EVC is traded on the Amsterdam stock exchange. Ineos acquired a majority stake in EVC last year(2001) and signed an agreement with EniChem's under which it could buy EniChem's EVC stake without triggering a public offer for the rest of EVC's shares.
(Chemical Week 2002/8/9)

1998/2/25 EVC

BSL AND EVC SIGNED PRELIMINARY AGREEMENT FOR PVC INVESTMENTS
　　http://www.evc-int.com/newsroom/pressreleases/19980225b.htm

European Vinyls Corporation (Deutschland) GmbH (EVC), a subsidiary of EVC International NV, and Buna Sow Leuna Olefinverbund GmbH (BSL), have reached a preliminary agreement under which EVC will build a new Polyvinyl Chloride (PVC) plant at Schkopau and will also acquire BSL's existing PVC assets.

The Dow Chemical Company has an 80% share in the BSL complex, and as an acknowledged partner with The Dow Chemical Company's global organisation, BSL can meet the needs of its customers anywhere in the world.

http://www.dow.com/valuepark/investors/

EVC took over the BSL PVC production facility at the Schkopau site on June 1,1998 and immediately started to modernize it and set up a new S-PVC plant.

The sum invested was DEM110 million, of which 24 million was for equipment and 19 million for planning and project management. 125 workers are currently employed in Schkopau, producing a total of 50 kilotons of PVC-E and 280 kilotons of PVC-S a year.

2004/12/13　Platts

Ineos extends offer deadline for EVC shares; cites disappointment

Intermediate chemicals producer Ineos, through its financial vehicle Hawkslease Finance Co Ltd, has extended the public cash offer acceptance period for all remaining ordinary shares of EVC International, until Dec 23, 2004 at 1500 CET (1400 GMT). HFCL said it was "disappointed" that less than 95% of the EVC Shares were tendered. Ineos currently holds about 85.9 % of all EVC Shares.

Platts 2005/2/21

Ineos set to increase holding in EVC, delist shares off Euronext

Germany's Ineos will hold 92.8% of Europe's largest PVC manufacturer, EVC following a successful public cash offer for all outstanding listed ordinary shares in EVC.

Following the tender, Ineos plans to de-list EVC shares from the Euronext Stock Exchange as soon as possible.

2004/10/14　Ineos

Proposed offer by HFCL for all EVC Shares
http://www.ineos.com/news/details_pressrealeases.php?id_press=59

Hawkslease Finance Company Limited (HFCL) and EVC International N.V. (EVC) announce that HFCL, a company controlled by INEOS, intends to make a firm public offer for all ordinary shares in the capital of EVC with a nominal value of EUR 1 listed on the Official Market of Euronext Amsterdam (the EVC Shares).

2005/6/23 EVC

EVC International N.V. Annual General Meeting
http://www.evc-int.com/newsroom/pressreleases/20050623.pdf

In the Annual General Meeting of Shareholders of EVC International N.V. held today, Thursday, 23 June 2005, in Schiphol, The Netherlands, the shareholders adopted the 2004 Annual Accounts and approved the sale of EVC business to INEOS Vinyls Newco Limited.
The shareholders also approved the proposal to liquidate EVC conditional upon and to commence after the approved asset sale.
It is intended that EVC will make an initial liquidation distribution to its shareholders when practicable after completion. It is expected that EVC’s shareholders will receive distributions in an amount of up to EUR 4.45 per share as further described in the Explanatory Memorandum

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2005/3/30 EVC

Offer by INEOS Vinyls Holdings on the total assets and liabilities of EVC International N.V.
http://www.evc-int.com/newsroom/pressreleases/20050330.pdf

Further to the Offer Document dated 8 November 2004 issued by Hawkslease Finance Company Limited and its earlier press statement of 21 February 2005, EVC International N.V. (EVC) announces that INEOS Vinyls Holdings Limited (INEOS), a wholly owned subsidiary of Hawkslease Finance Company Limited made an offer to acquire 100% ownership of all EVC's business.
All current discussions contemplate a sale of substantially all of EVC’s assets and liabilities.
Any such sale would be followed by a liquidation of EVC and the distribution of the cash to its shareholders. EVC’s business and operations would be continued by INEOS.
Pursuant to this transaction, approximately EUR 4.45 per EVC ordinary share will eventually be distributed to the shareholders of EVC.
The Management and the Supervisory Board of EVC have carefully reviewed the proposed offer, are seeking external legal and valuation advice and expect that agreement can be reached between INEOS and EVC on the proposed transaction within the next couple of weeks.
Consummation of a transaction, once agreed, would be subject to a number of other conditions including approval by EVC’s shareholders at an Extraordinary General Meeting.
In view of these conditions, EVC anticipates that a transaction would be completed, and initial liquidating distributions paid to shareholders, no sooner than the end of second quarter 2005.
EVC cautioned that there is no certainty regarding the final terms and conditions (including price) or timing of any such agreement, nor can any assurance be given that the current discussions will result in any agreement to sell the business. EVC expects to be able to make a further announcement regarding these matters in April 2005.

2005/7/1　Ineos Vinyls

EVC asset sale to INEOS Vinyls ー completion of transaction
http://www.polymer-age.co.uk/news.htm#INEOS%20buries%20EVC%20name

Yesterday, 30 June 2005, EVC International N.V. (EVC) and INEOS Vinyls Newco Ltd (INEOS Vinyls) completed the asset sale transaction as approved by EVC shareholders on the Annual General Meeting in Schiphol, The Netherlands, on 23 June 2005.
The liquidation of EVC, which was announced previously to be conditional upon the asset sale, will now take place.
It is intended that EVC will make an initial liquidation distribution to its shareholders when practicable. It is expected that EVC’s shareholders will receive distributions in an amount of up to EUR 4.45 per share as further described in the Explanatory Memorandum (Explanatory Memorandum is available on our website www.evc-int.com).

2005/6/27 Ineos Vinyls

EVC International N.V. Name Change to INEOS Vinyls, INEOS Compounds, INEOS Films
http://www.ineosvinyls.com/newsroom/pressreleases/20050627.pdf

With effect from 1 July 2005 we will cease using the EVC name and change to the INEOS name. This name change is a logical next step to full integration with INEOS, a leading global manufacturer of speciality and intermediate chemicals.
Once completed, the full ownership by INEOS will give us a strong basis for further business growth and investment.
As this is only a change of names of legal entities, our addresses and trade names EVIPOL, EVICOM, EVICAS and INOVOL remain unchanged.

Web-site addresses change to www.ineosvinyls.com, www.ineoscompounds.com and www.ineosfilms.com.
The process to transfer the assets and liabilities of EVC to INEOS is continuing and is expected to be completed shortly. The legal entity of EVC International N.V. with the office in Eijsden, The Netherlands, will not change.

At the ame time INEOS has also unveiled INEOS Styrenics as the new name for the former BASF polystyrene business in North America whose purchase was concluded on June 30.