Carling Platform: Total Will Respect Its Commitments Related to the Development of Resins Business Within the Group
October 21 2020 - 4:47AM
Dow Jones News
Regulatory News:
In response to information published by certain media that
caused legitimate concerns at the Carling facility, Total
(Paris:FP) (LSE:TTA) (NYSE:TOT) confirms that:
-- There is no process under way to sell the Société Cray Valley.
-- Total will respect the commitments made in 2013 during Carling's
restructuring concerning the global C4 resin (Ricon, Krasol) and RW resin
(Cleartrac) businesses, which are to continue their development within
the Group.
Total reaffirms its commitment to the Carling petrochemical
platform and its Region. Since the 2013 investment, the Carling
platform has grown by focusing on specialty resins, value-added
polymers intended primarily for the automotive industry and by also
consolidating its position as Total's main Polystyrene production
site in Europe.
In addition, a voluntary economic and social development
agreement, signed with the French government, the Grand Est region
and local communities, has enabled several third-party industrial
projects to be set up at Carling. The four projects, led by the
companies Metex, Afyren, SNF Coagulants and Quaron, together
represent an investment of EUR125 million and the creation of 143
jobs at the site.
* * * * *
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and electricity. Our 100,000 employees are committed to
better energy that is more affordable, more reliable, cleaner and
accessible to as many people as possible. Active in more than 130
countries, our ambition is to become the responsible energy
major.
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL SE directly or indirectly owns investments are separate legal
entities. TOTAL SE has no liability for their acts or omissions. In
this document, the terms "Total", "Total Group" and Group are
sometimes used for convenience. Likewise, the words "we", "us" and
"our" may also be used to refer to subsidiaries in general or to
those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL SE nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20201021005334/en/
CONTACT: Total
Media Relations: +33 1 47 44 46 99 l presse@total.com l
@TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
SOURCE: TOTAL
Copyright Business Wire 2020
(END) Dow Jones Newswires
October 21, 2020 04:32 ET (08:32 GMT)
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