TotalEnergies to optimize portfolio with sale of Cray Valley’s product lines

TotalEnergies to optimize portfolio with sale of Cray Valley’s product lines

(IN BRIEF) TotalEnergies has agreed to sell three product lines, including four production sites in the United States and the Cray Valley Italy affiliate, to Pacific Avenue Capital Partners. The product lines to be acquired are Wingtack, PolyBD, and Dymalink, which are developed by Cray Valley, TotalEnergies’ resin production, and sales affiliate. The transaction will allow Cray Valley to focus on its global specialty C4 and pure-monomer resin businesses, which will continue to be developed by TotalEnergies. Production of the Ricon, Krasol, and Cleartack resins will continue at Carling (France), Grand Junction (US), and Kralupy (Czech Republic). TotalEnergies will continue to optimize its portfolio and focus on its core businesses.

(PRESS RELEASE) PARIS, 11-Apr-2023 — /EuropaWire/ —  TotalEnergies (EPA:TTE), a global multi-energy company with over 100,000 employees and presence in more than 130 countries as well as the world’s 3rd-largest low-carbon LNG company, announces that Pacific Avenue Capital Partners has made an offer to acquire three product lines (Wingtack®, PolyBD®, and Dymalink®) developed by Cray Valley, TotalEnergies’ resin production, and sales affiliate. TotalEnergies has accepted the offer, which includes four production sites in the United States, the Cray Valley Italy affiliate, and the portfolio of customers.

The transaction will enable Cray Valley to focus on its global specialty C4 and pure-monomer resin businesses, which will continue to be developed by TotalEnergies. Production of the Ricon®, Krasol®, and Cleartack® resins will continue at Carling (France), Grand Junction (US), and Kralupy (Czech Republic), in accordance with the commitments made when the Carling site was restructured in 2013.

TotalEnergies remains committed to its customers, and this transaction aligns with the company’s strategy to optimize its portfolio and focus on its core businesses. The company thanks its employees for their dedication and professionalism and assures them that they will continue to work with TotalEnergies to create value for its customers and stakeholders.

About Cray Valley

TotalEnergies’ Cray Valley affiliate is a global supplier of specialty chemical additives, hydrocarbon specialty chemicals, and liquid or solid tackifying resins used to make adhesives, rubbers, polymers, coatings and other materials. As a pioneer in the development of these advanced technologies, Cray Valley has already brought hundreds of performance-enhancing products to market for demanding applications in a range of sectors (energy, printing, packaging, construction, tires, electronics, etc.). Cray Valley’s European headquarters, at the Carling Saint-Avold platform, is home to its customer service, a research and development center, and production units. For more information, visit www.crayvalley.com.
For more information, visit www.crayvalley.com

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

TotalEnergies Contacts

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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. 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 TotalEnergies 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. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

SOURCE: TotalEnergies