On Tuesday, Total SA said that its French resins business Societe Cray Valley was not up for sale.
Total stated, “There is no sales process for the Societe Cray Valley.”
Previously earlier in October, a report regarding the business’ sale surfaced with Total declining to comment.
Cray Valley operates eastern France’s Carling petrochemical complex and has operations in other regions including China.
According to some sources, the business is not a part of Total’s divestiture plan but the company’s international resins businesses have been offered for sale and are enticing private equity buyers. Total denied elaborating when asked whether other resins operations were affected by a sales process.
