- The acquisition comprises production facilities in Germany, based at Herne and Moers.
- The new business is a complementary fit with INEOS’ portfolio and expertise and provides opportunities to integrate into its existing manufacturing sites in Germany.
- The new business, to be called INEOS Solvents, will be led by Wolf Haenel as its Chief Operating Officer. It will be part of INEOS Enterprises.
Following clearance from the European Commission, INEOS Enterprises has today successfully completed its agreement to purchase one of Europe’s leading solvent manufacturers, Sasol Solvents Germany. The acquisition includes production facilities at Moers on the Lower Rhine, and Herne in Germany's industrial Ruhr district.
The addition of Sasol’s German based European Solvents businesses provides a complementary fit with the portfolio and expertise of INEOS and opens up new opportunities within its existing manufacturing sites in Germany.
Both sites and their products will now be integrated into the new business to be called INEOS Solvents, itself a part of INEOS Enterprises.
Ethanol and isopropyl alcohol are produced at Herne and oxygenated solvents isopropyl alcohol (IPA), secondary butyl alcohol (SBA), and methyl ethyl ketone (MEK) are produced at Moers. The Moers plant also makes plasticisers, synthetic resins and fine chemicals such as alkyl chlorides and aluminium organic compounds.
“We are extremely pleased that the acquisition of Sasol’s site has now completed to enable us to begin the integration of the business into INEOS Enterprises.” said Ashley Reed, CEO INEOS Enterprises. The addition of this leading solvents business broadens our portfolio and presents new opportunities for integration into some of our existing upstream sites in Germany,"
The new business will be able to deliver new opportunities for innovation and growth that will provide significant benefit to its customers.
“We are pleased to welcome our new colleagues to INEOS as we begin to position the new INEOS Solvents business in the marketplace. This acquisition allows us to quickly expand our solvents offer giving us new opportunities for growth that will benefit our customers across Europe,” says Wolf Haenel COO (Chief Operating Officer) managing the new INEOS Solvents business. “These are good quality, well placed assets, complemented by a very experienced operations team and high safety, health and environmental standards.” he adds.
INEOS will also continue to operate the Maleic Anhydride plant at the Moers site for the ongoing joint venture between Sasol and Huntsman.
INEOS Enterprises is a standalone business, a part of INEOS AG.
The value of the deal is not disclosed.
ENDS
For further information contact:
Richard Longden
Phone: +41 (0) 799 626 123
email: richard.longden@ineos.com
Craig Welsh
Phone +44 (0) 1928 511528
Email craig.welsh@ineos.com
Note to editors:
INEOS Enterprises ( http://www.ineosenterprises.com ) is a portfolio of ten businesses manufacturing chemical products in Northern Europe, with sales around the world. The Company is focused on the developing needs of customers and rapid growth through investment in new products and manufacturing facilities or by acquisition. INEOS Enterprises now employs some 800 people across sites in the UK, France, Germany
Sasol Limited ( http://www.sasol.com ) Committed to excellence in all we do, Sasol is an international integrated energy and chemical company that leverages the talent and expertise of our more than 35 000 people working in 37 countries. The company develops and commercialises technologies, and builds and operates world-scale facilities, to produce a range of product streams, including liquid fuels, chemicals and electricity. While remaining committed to its home-base of South Africa, Sasol is expanding internationally based on a unique value proposition.