INEOS Oxide and Wilmar today announce that they have closed the acquisition by INEOS of the Wilmar Ethoxylation plant in Lavéra, France.
Nathalie Haeberli, Business Manager Alkoxylation, commented “This acquisition is a great fit for our alkoxylation business as we continue our growth in the European marketplace. We will now operate alkoxylation assets on three integrated INEOS sites. We look forward to adding this capacity to our network, that together with our upcoming expansion in Zwijndrecht, Antwerp, Belgium, increases our offering to the European market.”
Graham Beesley, CEO INEOS Oxide said “This acquisition comes at an opportune moment for INEOS’s Lavéra ethylene oxide activities following the recent decision to invest in the Lavéra site. We are confident that this enhancement to our capabilities in Lavéra will deliver for the business, noting the expertise of both the Wilmar and INEOS Oxide teams at Lavéra.” As part of these investments INEOS expects its annual ethylene oxide production capacity at Lavéra ultimately to reach 270 kt.
In the transaction, INEOS Oxide will acquire the Lavéra ethoxylation production asset and the associated employees, however the Wilmar commercial portfolio is not part of the transaction and will remain with Wilmar. In parallel, supporting Wilmar’s strategic goals, INEOS and Wilmar have entered into a toll manufacturing agreement to supply ethoxylation capacity to Wilmar from across the INEOS network.
ENDS
Press contact
Richard Longden (INEOS) 0041 21 627 7063 or 0041 7996 26123