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2008-03-15
Manufacturing News
Third largest chemicals company buys BASF subsidiary The third largest chemicals company in the world INEOS acquires chemical intermediates production facilities subsidiary from German chemical company BASF.
INEOS, the world’s third largest chemicals company, and a leading manufacturer
of petrochemicals, specialty chemicals and oil products, agrees to purchase
the Seal Sands subsidiary site on Teesside (UK) from BASF plc, the world's
largest chemicals company. The Acrylonitrile plant at Seal Sands currently produces around 230,000 tonnes per annum with the majority of product being used to supply three BASF downstream businesses, located at Antwerp (Belgium), Seal Sands (UK) and Ludwigshafen (Germany). The acquisition fits well with INEOS Nitriles capabilities and expertise in the Acrylonitrile and associated businesses. Additionally, the Seal Sands Acrylonitrile plant will serve the existing INEOS Acetonitrile plant located at the Seal Sands facility, which currently upgrades and sells the by-product received from the plant. Said Rob Nevin, INEOS Nitriles CEO: “The purchase of BASF’s Seal Sands manufacturing site is a natural development for INEOS Nitriles and supports our long-term strategy. We have a strong commitment to our customers and this acquisition will support their plans for growth.” “The sale of the Seal Sands site is part of our approach to focus on the core assets of our polyamide value chain,” said Dr. Harald Lauke, President of BASF Performance Polymers division. “I am confident that the integration of this site and its workforce into
INEOS Nitriles, a company committed to a long-term participation in the
acrylonitrile business, will be the best guarantee of continued future
success for the Seal Sands site,” said Bernd Brian, BASF Site Director
at the Seal Sands site. BASF, the world’s leading chemicals company, produces polyamide 6.6 (Ultramid* A) from the key intermediates HMD and adipic acid at its site in Ludwigshafen, Germany. HMD remains a key element in BASF’s PA 6.6 value chain. For this reason, the HMD plant is excluded from the transaction. INEOS Nitriles will operate the HMD plant for BASF. BASF plc has around 240 employees at the site and a further 250 people
are employed by contractors. On completion of the agreement, all BASF
plc personnel will be transferred to INEOS Nitriles, who will also take
over existing contracts, supply and service arrangements. Got a Cool Job in Chemicals? - Post Jobs to Dedicated Engineering Portal Now! See all the Press Releases from INEOS sites. Read a recent article about -
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