Management Strategy Ineos Completes Sale of its Sulphur Chemicals Business
Ineos has recently revealed that it has completed the sale of its Sulphur Chemicals business to International Chemical Investors Group. With this move, the business will become part of Weylchem’s advanced intermediates and reagents portfolio.
London/UK – Ineos Enterprises has announced the completion of the sale of its Sulphur Chemicals business to International Chemical Investors Group.
Ineos Sulphur Chemicals business is Spain’s largest dedicated manufacturer of sulphuric acid and oleum serving end-applications ranging from agriculture to chemical intermediates. Its 400,000-ton state of the art manufacturing facility with an excellent sustainability footprint is located in Bilbao, Northern Spain.
The business will become part of Weylchem’s advanced intermediates and reagents portfolio which includes an existing sulphuric acid and oleum plant located in Lamotte, Northern France. Weylchem is wholly owned by the International Chemical Investors Group.
The business is an attractive addition to Weylchem’s advanced intermediates and reagents portfolio that will help secure future development and growth, to meet customer needs in Europe.
The agreement is an important step in the continued development of both businesses and presents new opportunities to the 50 employees based in Bilbao as they join what will be one of the leading European Sulphur Chemicals companies.
Dr. Uwe Brunk, CEO, Weylchem Group of Companies, states, “This acquisition underlines our commitment to bolstering our position as a strategic partner in advanced intermediates and reagents. Ineos Sulphur Chemicals and our French operations at Weylchem Lamotte complement each other perfectly. This combined business will be an agile, customer-focused player with superior services and supply certainty provided to demanding customers across Europe.”
The consideration for the transaction is not disclosed.