- The acquisition will complement INEOS existing Sulphur Chemicals Business in the UK, effectively doubling production capacity.
- The sulphuric acid plant, based in Northern Spain, is one of the most modern in Europe with the capacity to produce 340,000mt per year.
- Ashley Reed CEO INEOS Enterprises said, "The asset is ideally situated to source raw materials competitively and to serve the Spanish market, with excellent access to export markets. It will also complement our existing Sulphur Chemicals business in the UK.”
INEOS Enterprises today announced its intention to acquire 100% of the shares of Befesa Valorización de Azufre, S.L.U (BVA).
BVA is a regional market leader for sulphuric acid and oleum located in Bilbao, Spain.
The plant was commissioned in October 2011 and is one of the most modern in Europe with the capacity to produce 340,000mt per year of sulphuric acid and related products.
The acquisition will complement INEOS existing Sulphur Chemicals Business in the UK, effectively doubling the production capacity and adding a Continental European dimension to the asset base.
Ashley Reed CEO INEOS Enterprises said, “We are very pleased to have acquired this modern production facility, in Bilbao. The asset is ideally situated to competitively source raw materials and to serve the domestic market, with excellent access to export markets. It will also complement our existing Sulphur Chemicals business in the UK.”
Completion of the transaction is expected to take place at the end of December.
The purchase price was not disclosed as part of this announcement.
ENDS.
Media contacts
Richard Longden (INEOS) +41 21 627 7063 or +41 7996 26123
About INEOS
INEOS is a global manufacturer of petrochemicals, speciality chemicals and oil products. It comprises 15 businesses each with a major chemical company heritage. Its network spans 65 sites in 16 countries throughout the world generating a turnover of $54bn in 2014. INEOS products make a significant contribution to saving life, improving health and enhancing standards of living for people around the world. Its businesses produce the raw materials that are essential in the manufacture of a wide variety of goods: from paints to plastics, textiles to technology, medicines to mobile phones - chemicals manufactured by INEOS enhance almost every aspect of modern life.
About Befesa
BEFESA is a multinational company which provides innovative sustainable solutions to recycle residues of the steel / zinc and aluminium industry as well as industrial environmental services. The company operates plants in Europe, Middle East, Asia and the Americas with approx. €0.8 bn annual Sales and 1.900 employees. Befesa handles more than 2.2 million tons of residues and more than 1.3 million tons in its recycling processes. Befesa was acquired by Triton, a private equity investment firm, in 2013. Triton has actively supported Befesa’s growth since the acquisition. To learn more about Befesa or Triton please use the following links:www.befesa.com www.triton-partner.com