Sale of VinyLoop business at Ferrara, Italy to Benvic
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.
ENDS