Home / Business and Economy / Kem One Secures Crucial €30M Amidst Chemical Market Slump
Kem One Secures Crucial €30M Amidst Chemical Market Slump
31 Jan
Summary
- Kem One obtained €30 million in new debt from existing lenders.
- The company faces higher energy costs and Asian competition.
- Anti-dumping cases against Asian PVC imports may aid recovery.
French chemicals firm Kem One SASU has secured a vital €30 million in fresh debt from its existing lenders. This financial injection aims to support the company as it navigates a significant downturn in the chemicals market. Kem One, under the ownership of Apollo Global Management, has been contending with escalating energy costs and heightened competition from Asian market players. The weak performance of the construction sector has also impacted demand for its PVC products.
To manage liquidity challenges, Kem One previously replaced its revolving credit facility with a substantial loan. The company is actively engaged in broader restructuring discussions and will utilize the newly acquired debt to sustain operations during these negotiations. Kem One is also pursuing anti-dumping cases with the European Commission against PVC products imported from Asian markets. The company anticipates that potential forthcoming anti-dumping regulations in Europe could positively influence its business turnaround.
