Amadeusz Juskowiak

Rhonepoulenc to launch investment certificates

French stateowned chemicals group RhonePoulenc RHONPA said it will increase its capital with a 25 billion franc issue of preferential investment certificates on March 9

Company chairman JeanRene Fourtou said 500 mln francs of the issue will be placed in the US Details of the issue will be announced by Finance Minister Edouard Balladur on March 6

The group due to be privatised at an unspecified date said in January it was planning a capital increase to pursue its development strategy and make further acquisitions

RhonePoulenc shares were suspended from trading on the Paris Bourse last Thursday ahead of the capital increase The groups capital currently stands at 403 billion francs

Fourtou speaking at a news conference did not give details of acquisitions the company planned for 1987

He said acquisitions in 1987 would complement an industrial investment program of around five billion francs and research spending of about 35 billion francs RhonePoulenc spent 55 billion francs on acquisitions last year

Chemistry is on the move and we face opportunities that must be seized Fourtou said