Ineos Barex has signed a binding agreement to acquire the Polyacrylonitriles Business from Mitsui Chemicals.

On completion of the deal, Ineos will immediately take over responsibility for sales and marketing to all Mitsui PAN resin and Zexlon film customers and will work closely with them to obtain necessary approvals and make the transition to Ineos Barex products. Mitsui production will be continued for sufficient time for approvals to transition to Ineos Barex products. The deal comprising the sales, marketing, and supply of PAN resin and Zexlon film is expected to be completed on August 1, 2013.

The value of the transaction was not disclosed.