Ineos to acquire Sasol’s German based European Solvent Business
Ineos has today announced that it has agreed to purchase Sasol Solvents Germany, one of Europe's leading solvent manufacturers.
The acquisition which is conditional on approval by the relevant competition authorities comprises production facilities in Germany, based at Herne and Moers, employing around 520 people.
The addition of Sasol's German based European Solvents businesses provides a complementary fit with the portfolio and expertise of Ineos and opens up the possibility of integration into its existing manufacturing sites in Germany.
The facility at Herne, in Germany's industrial Ruhr district, manufactures ethanol and isopropyl alcohol, as well as catalysts for both processes.
The Moers site, on the Lower Rhine, produces oxygenated solvents isopropyl alcohol (IPA) and secondary butyl alcohol (SBA), which is upgraded on site into methyl ethyl ketone (MEK). The plant also produces plasticisers, synthetic resins and fine chemicals such as alkyl chlorides and aluminium organic compounds.
"The addition of this solvents business broadens the Ineos Enterprises portfolio and presents new opportunities for integration into some of our existing upstream sites in Germany," said Ashley Reed, CEO Ineos Enterprises.
"These are good quality, well placed assets, complemented by a very experienced operations team and high safety, health and environmental standards.
On completion, both sites will become part of Ineos Enterprises.
Ineos will also continue to operate the Maleic Anhydride plant at the Moers site for the ongoing joint venture between Sasol and Huntsman. This building block for unsaturated polyester resins is used mainly in fibreglass reinforced resins for construction, automotive and marine products.
The value of the deal is not disclosed.
Ineos Enterprises is a standalone business, a part of Ineos AG.