Ineos Completes Takeover of Sasol Solvents Germany
Ineos has officially acquired Sasol Solvents Germany, following clearance from the European Commission. An acquisition price was not disclosed.
With the deal announced in December 13, the Swiss-based group gains production facilities at Moers on the lower Rhine River and Herne in Germany's industrial Ruhr district, employing altogether 520 people.
Describing the Sasol businesses as a "complementary fit," Ashley Reed, CEO of Ineos Enterprises, said the buy "broadens our portfolio and presents new opportunities for integration into some of our existing upstream sites in Germany,"
Both sites and their products will be integrated into a newly created business to be called Ineos Solvents.
At Herne, Sasol produces ethanol and isopropyl alcohol. At Moers, the portfolio includes oxygenated solvents isopropyl alcohol (IPA), secondary butyl alcohol (SBA) and methyl ethyl ketone (MEK). The Moers plant also makes plasticizers, synthetic resins and fine chemicals such as alkyl chlorides and aluminium organic compounds.
Ineos will also continue to operate the maleic anhydride plant at Moers for the joint venture of Sasol and Huntsman. The building block for unsaturated polyester resins is used mainly in fiberglass reinforced resins for construction, automotive and marine products.
