Background

Synergy between the converters and the rest of the industry is key to the future of the PVC industry in Europe. To generate the funding that will enable Vinyl 2010 to realise its full potential and to provide a more equitable system that recognises the complexity of PVC manufacturing and varying company circumstances, a new system was required. The Vinyl Foundation is an independent trust set up to administrate funding from the converters in a more systematic and fair way for Vinyl 2010 projects across Europe.

Independence and accountability

The Vinyl Foundation is a non-profit making trust. This trust has appointed the accountancy firm KPMG Fiduciaire to independently administrate the collection of funds on behalf the Vinyl Foundation.

Raw material producers have agreed to provide data to KPMG Fiduciaire on the tonnage of PVC sold to their customers. KPMG Fiduciaire will process this data in complete confidentiality and issue payment requests to converters, compounders and traders on behalf of the Vinyl Foundation.

All information will be handled in the strictest confidence. Even the Vinyl Foundation’s trustees, themselves converters, will not have access to the tonnage figures.

This new independent funding mechanism, established and managed by the converting industry, is good for the PVC industry and strengthens the converters’ position as a key stakeholder in Vinyl 2010.