Following the announcement in June regarding the decision by VinyLoop Ferrara SpA to close its specialised PVC recycling business at Ferrara, Italy, INOVYN can now confirm that it has sold the remaining VinyLoop plant assets and related land, service contracts and transferred all current employees to Benvic Europe srl.
Benvic intends to convert the assets for its business focussed on polymer compound production.
This is positive news as it ensures continued industrial activity on the ex-VinyLoop site and employment for the ex-VinyLoop employees.
INOVYN was formed on 1 July 2015. With an annual turnover in excess of €3.5 billion, INOVYN has more than 4,300 employees and manufacturing, sales and marketing operations in ten countries across Europe.
INOVYN’s portfolio consists of an extensive range of class leading products arranged across Organic Chlorine Derivatives, Chlor Alkali, General Purpose Vinyls and Specialty Vinyls. Annual production volumes are in excess of 40 million tonnes.