ICIG’s VYNOVA Belgium today announced the closing of a financing package of more than EUR 50 million to fund the KOH conversion at the Tessenderlo site.
VYNOVA Belgium successfully closed a financing package for membrane electrolysis conversion at Tessenderlo site in Belgium on advantageous terms. The amount of more than EUR 50 million is split into an ECA-covered and a commercial loan facility provided by ING Wholesale Banking Germany.
ICIG already owns a successfully converted KOH production plant at Potasse and Produits Chimiques SAS (PPC) in Thann, France. With the KOH conversion at the Tessenderlo site, ICIG will further strengthen its position as the only KOH producer with two production sites in Europe.
The inaugural financing package of VYNOVA Belgium underlines the commitment of ICIG to support the growth plans of VYNOVA Group.
About VYNOVA Group
VYNOVA Group is the Chlorovinyls platform of International Chemical Investors Group (ICIG). Key products sold, besides various grades of S-PVC include chlorine (Cl2), vinyl chloride monomer (VCM), ethylene dichloride (EDC), sodium and potassium hydroxide (NaOH, KOH), hydrogen (H2), sodium hypochloride (NaCIO) and hydrochloric acid (HCl). With a network of five facilities in Europe, VYNOVA Group generates sales in excess of EUR 850 million with more than 1,200 employees. For more information about VYNOVA Group: www.vynova-group.com.
About International Chemical Investors Group
International Chemical Investors is a privately owned industrial group with sales in excess of EUR 2 billion and more than 6,000 employees worldwide. ICIG is focusing on three main platforms: Pharmaceuticals under the CordenPharma brand, Fine Chemicals under the WeylChem brand and Chlorovinyls under the VYNOVA brand. Since inception in 2004, ICIG has acquired 25 independent chemicals and pharmaceutical businesses in Europe and the United States, all of which have origins in major global chemical or pharmaceutical corporations. For more information about International Chemical Investors Group: www.ic-investors.com.
About ING Wholesale Banking Germany
ING Wholesale Banking Germany comprises the business with corporate customers of ING-DiBa AG and is part of the ING Group’s worldwide Wholesale Banking network with offices in more than 40 countries. ING Wholesale Banking offers banking services for large, internationally operating corporate clients. In addition to traditional banking products such as Corporate Lending and Transaction Services ING is a world leading name in structured & project financing concepts complemented by capital market solutions.
ING Wholesale Banking Germany has more than 300 employees based in the headquarters Frankfurt am Main who are in charge of a credit volume of more than EUR 15.5 billion by the end of 2015.
More information about ING Wholesale Banking Germany: www.ing.de
International Chemical Investors Group
Phone: +49 69 506 999 0