INOVYN announces new chloromethanes operations strategy
INOVYN has today announced details of its new chloromethanes operations strategy in response to the decline in European demand.
With effect from 1 March 2016, production will be focused on INOVYN’s chloromethanes assets at Tavaux (France) and Rosignano (Italy). This will result in closure of the Company’s third chloromethanes asset at Runcorn (UK).
Comments Chris Tane, CEO, INOVYN: “Our new operations strategy will ensure we are best positioned to focus on and meet the demand for chloromethanes in our core markets.
“It will also significantly improve our cost base and help underpin our sustainable, competitive position as a European chloromethanes producer.”
INOVYN will continue to offer a full range of methylene chloride grades - including its exclusive brand METHOKLONETM - as well as chloroform, carbon tetrachloride and perchloroethylene.
Closure of the chloromethanes asset at Runcorn Site presents INOVYN with the opportunity to exploit the resulting increased availability of membrane chlorine capacity at the Site.
The Company expects to be able to deliver the planned closure at Runcorn Site without the need for compulsory redundancies in line with its existing Security of Employment and restructuring policies.