Pharma Industry
Industry: Email Alert RSS FeedIneos to Expand ICI Acrylics Once the Acquisition Is Complete.(Statistical Data Included)
Chemical Market Reporter, October, 1999 by MILMO, SEAN
Divestment moves ICI further toward corporate goals. INEOS GROUP will use new technologies in methyl methacrylate and hydrogen cyanide to greatly expand the acrylics business it is acquiring from IGI. ICI has agreed to sell ICI Acrylics to Ineos for [pounds]505 million ($873 million).
Ineos is backed by Charterhouse Development Capital, a private equity company. The acrylics operation, which has annual sales of around $800 million, will remain a stand-alone activity separate from Ineos's main business in ethylene oxide and derivatives, of which it is Europe's largest producer. "The acrylics business fits well with our longer-term objectives of building the portfolio of the Ineos Group," says Jim Ratciffe, head of Ineos, who helped organize the...
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