OpenGate Capital Signs Exclusivity Agreement to Acquire Benvic from Solvay

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OpenGate Capital announced today that it has signed an exclusivity agreement with Belgian chemicals leader, Solvay S.A. (OTC: SVYZY) to acquire Benvic®, a leading PVC compounder with three manufacturing plants in Europe. This project is subject to applicable information/consultation procedures with employee representatives and regulatory approvals. The sale is expected to be completed by the first half of 2014. Under the Benvic brand name, the business develops, produces and markets high quality innovative PVC based thermoplastic solutions in the form of powders and compounds that are utilized across a wide range of end-applications including building and construction, automotive and aerospace, cabling, pharmaceutical, packaging and fluid transport.

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