Proviron Basic Chemicals
Phthalic anhydride and phthalates units are for sale
During the strategy focusing exercise, mid 2008, Proviron enhanced its evolution towards renewable raw materials and sustainable chemicals. At the same time, it became clear that the phthalic anhydride and phthalate esters production and business would be better off sailing their own course.
Since October 2008 the Proviron website has been showing a message that basically puts the phthalic anhydride and phthalates production and business up for sale. Soon after that decision, management started work on making independent Proviron Basic Chemicals (Basic) as it has been called since. Since then Basic has been separated to a great extent with its own organisation chart, staff services, commercial approach, etc … 2009 will see things become formal when Basic will become a public limited company..
Upstream or downstream
The plan is to sell the new company as a going concern. That means that Proviron is looking for a buyer who is willing to run the company without disruption and who keeps on personnel. Preferably that would be a company already present in this business and that would like to integrate upstream or downstream with the phthalic anhydride and phthalates production.
Many plusses
The phthalic anhydride unit in Ostend has an annual capacity of 102,000 tonnes, making it the biggest in Europe. This size and its experienced and motivated staff are strong plusses. Another pro is its geographical position in the heart of Western Europe with direct access to the European motorway network and to the most important waterways via the Ostend-Bruges canal..
Integration
The Ostend site is strongly integrated with Basic at its core. Phthalic anhydride is a feedstock for phthalates, which are plasticizers used in the production of PVC among others. Basic itself uses part of its phthalic anhydride production because the company also manufactures phthalate esters. Another example of integration has to do with the exothermic nature of the phthalic anhydride production. The released energy is transformed into steam which is subsequently used in the other units of the site belonging to Proviron or Huber. These three parties share among them also other utilities such as electrical power, demineralised water, nitrogen and compressed air.
Active
In 2008, Basic spent a lot of attention and study on a plan to improve energy efficiency. After all, this is the production’s largest cost. To save on energy, projects were developed which will either be installed by Proviron itself or which will be presented to the future buyer.