INEOS Oxide announce the proposed acquisition of Arkema's Oxo Alcohol Business
INEOS Oxide and Arkema today announced a project for INEOS to acquire Arkema’s Oxo Alcohol business, which will include the acquisition of Arkema’s stake in Oxochimie, a Joint Venture at Lavéra between INEOS and Arkema, producing oxo alcohols (butanol and 2-ethyl hexanol).
Graham Beesley, CEO INEOS Oxide said, “Oxo alcohols are a core business for INEOS Oxide, both supplying the European and global markets and supporting the manufacturing of our fast growing downstream intermediates businesses. We look forward to integrating the Oxochimie joint venture and growing our global market presence in oxo alcohols, aldehydes & derivatives.”
The proposed transaction is subject to the normal consultation process involving the work councils. A competition clearance from the European Commission will also be required. Until such steps are completed and the proposed transaction is finalised the two businesses will remain fully independent. The Parties do not foresee any material issue with receiving the competition clearance and look forward to a completion date as soon as possible.
Oxochimie is a Joint Venture between INEOS and Arkema at Lavéra, France and is not part of the INEOS Group Holdings SA group. Oxochimie produces butanols, 2-ethyl hexanol and oxoaldehydes on behalf of its parent companies that Arkema and INEOS market independently.
ENDS
Note to Editors
INEOS is a global manufacturer of petrochemicals, speciality chemicals and oil products. It comprises 15 businesses each with a major chemical company heritage. Its production network spans 65 manufacturing facilities in 16 countries throughout the world. 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.
INEOS Oxide is a division of INEOS and is a leading producer of Ethylene Oxide and Ethylene Oxide Derivatives, Propylene Oxide and Propylene Oxide Derivatives, plus a range of solvents and specialty chemicals including butanol and 2-EH, with production facilities in Antwerp Belgium, Köln Germany, Lavéra France, Plaquemine Louisiana and Hull United Kingdom.
For Further information contact: Richard Longden - Phone: +41 21 807 0740