Commercial Agreement between HELLENIC PETROLEUM S.A. - INEOS CHLORVINYLS

 

HELLENIC PETROLEUM S.A. and INEOS ChlorVinyls have signed an agreement for HELLENIC PETROLEUM to market and distribute INEOS’s  Suspension PVC resins in Greece.

 

This agreement strengthens the position of HELLENIC PETROLEUM in the Greek market and the wider area of the Balkans.  It will allow further optimization of the Company’s supply chain and increases the availability of additional S-PVC grades used in a number of industrial applications.

 

As part of this new agreement, HELLENIC PETROLEUM is planning to make an investment of €0.7 million in new logistics infrastructure, in order to efficiently meet customer requirements.

 

According to John Costopoulos, CEO of HELLENIC PETROLEUM; “This is an agreement of great strategic importance that will improve the results of the Company’s petrochemical sector and support our polymer business. We are excited to commence this collaboration with INEOS, one of the world’s top chemicals group and a leading European plastics producer”.

 

Jonathan Stewart, Global Sales Director for INEOS ChlorVinyls commented: “We are delighted to have entered into this agreement with HELLENIC PETROLEUM to serve these strategically important markets”.

 

INEOS ChlorVinyls based in United Kingdom, is one of the major chlor-alkali producers in Europe, a global leader in chlorine derivatives and Europe’s leading polyvinyl chloride (PVC) manufacturer.  It’s manufacturing and marketing activity is vertically integrated through most of the PVC chain and includes ethylene dichloride (EDC), vinyl chloride monomer (VCM), along with Emulsion PVC (E-PVC) and Suspension PVC (S-PVC)

 

HELLENIC PETROLEUM S.A., an energy company, primarily engages in refining and marketing of petroleum products, petrochemicals, power production and natural gas, as well as other sectors,  in South Eastern Europe.  In petrochemicals particularly, it is involved in the manufacturing and marketing of polypropylene, BOPP film, PVC, aliphatic solvents and inorganics.

 

Further information:
Mr. E. Stranis, Public and Corporate Affairs Director, HELLENIC PETROLEUM S.A., Tel: +30 210 5539241, fax: +30 210 5539240.