Ethyl and Rhone-Poulenc.
Richmond, VA-based Ethyl and Rhone-Poulenc, a France-based chemical company, have reached an agreement in principle for Ethyl to acquire Rhone-Poulenc's and Entreprise Miniere et Chimique's common affiliate company, Potasse et Produits Chimiques (PPC). PPC is located at Thann, Haut-Rhin, France. The acquisition of PPC, one of the largest producers of organic and inorganic brominated compounds, which also operates an electrolysis unit to produce caustic potash and potassium carbonate used in the chemical industry, will complement Ethyl's global position in performance chemicals and will strengthen both companies' positions in bromine derivatives. Valued at more than U.S. $100 million, the transaction is subject to the necessary company and governmental approvals. Completion is expected by year-end.