Ineos Enterprises has announced its intention to buy 100% of the shares of Spain’s leading sulfuric acid and oleum producer, Befesa Valorizacion de Azufre (BVA).

Located in Bilbao, northern Spain, BVA’s plant has the capacity to produce 340,000 t/y sulfuric acid and related products. Ineos said the facility, which was commissioned in October 2011, is one of the most modern in Europe.

The acquisition will complement Ineos’s existing sulfur chemicals business in the UK, effectively doubling its production capacity. “The asset is ideally situated to competitively source raw materials and to serve the domestic market, with excellent access to export markets,” said Ashley Reed, CEO of Ineos Enterprises.

The transaction is expected to complete at the end of December. The purchase price was not disclosed.