TotalFinaElf has reached an agreement in principle with Pechiney for the sale of its Flexible Packaging specialist company Soplaril.

Soplaril is one of Europe's ten leading players in multilayer films primarily for food packaging applications. The company achieves annual sales of some €200M and operates seven production sites in Europe: three in France -Arras, Moreuil, Dax-, two in Italy -Milan, Genoa-, one in Spain -Saragossa-, and one in Porto in Portugal.

This deal should enable Soplaril to speed up its development through integration within a broader entity, thereby consolidating its positions in Europe and in the United States and enhancing its product range for the flexible packaging sector.

The completion of the agreement remains subject to the notification of personnel representative bodies, and its implementation to the approval of the competition authorities.

This decision is in line with TotalFinaElf's ongoing strategy to refocus its Chemicals businesses portfolio.