INEOS Enterprises has today announced its intention to purchase Salt Union’s vacuum salt business at Runcorn, Cheshire.
The proposed sale is subject to further discussions during a period of exclusivity. If agreed, it will involve the takeover by INEOS Enterprises of the 850,000 tonne per annum vacuum salt plant at Weston Point in Cheshire. The plant employs around 100 people who will transfer upon conclusion of the deal to INEOS Enterprises.
The deal will be financed with the support of Bank of Scotland Corporates Liverpool Team. Alastair Donald, Director of Bank of Scotland Corporate in Liverpool, said: "With a strong track record and an experienced management team, INEOS Enterprises is well placed to drive forward the future success of Salt Unions vacuum salt business."
Salt Unions vacuum salt products include:
- undried vacuum salt – a key raw material in the manufacture of chlorine and caustic soda;
- pure dried vacuum salt – an important ingredient for the food industry as well as for processes ranging from shampoo manufacture to animal nutrition and water treatment;
- granular and white tablet salt for water softening;
- packed de-icing salts.
Chris Tane, INEOS Enterprises CEO comments: “The vacuum salt business is a close fit with the brine business in the INEOS Enterprises portfolio. Combining the two businesses will have big benefits for both – strengthening the competitiveness of the vacuum salt business at the same time as securing a key outlet for brine.”
Salt Union will continue to operate its extensive rock salt business from the Winsford Mine in Cheshire together with the Minosus joint venture that includes the document storage business Deepstore.
For further information please contact:
Craig Welsh, INEOS Enterprises Press Office
Phone 01928 511528
Email: craig.welsh@ineoschlor.com