INEOS Enterprises has completed the sale of its Melamines & Paraform businesses to Prefere Resins Holding GmbH
INEOS Enterprises has today announced completion of the sale of its Melamines & Paraform to Prefere Resins Holding GmbH.
The sale of the business covers the Paraform site at Mainz in Germany and the Melamines facilities in Springfield USA, Frankfurt, Germany and Surabaya, Indonesia.
The agreement is an important step in the continued development of these established businesses and presents new opportunities to the 270 people that transfer to Prefere Resins.
“I am very pleased to have completed the sale of the INEOS Melamines & Paraform business,” said Ashley Reed CEO INEOS Enterprises. “The deal represents a strong strategic fit with Prefere Resins and is a great opportunity to realise the true potential of these businesses, helping to secure their future development and growth.”
Prefere Resins is a leading European producer of phenolic resins, headquartered in Erkner, Germany and operates production sites in Finland, Germany, United Kingdom, France, Poland and Romania. The Company produces around 350,000 tonnes of product per year and employs over 320 people.
The consideration for the transaction is not part of this announcement.
ENDS.
Media contacts
Richard Longden (INEOS) 0041 21 627 7063 or 0041 7996 26123
Mark Killick (Media Zoo) 020 7384 6980 or 07836 634449
Andrew McLachlan (Media Zoo) 020 7384 6980 or 07931 377162
Notes to editors.
INEOS Enterprises comprises a portfolio of businesses manufacturing chemical products in Northern Europe USA and Canada, with sales of €2.5bn around the world. The business is focused on the developing needs of its customers and rapid growth through investment in new products and manufacturing facilities or by acquisition. It employs c. 2,500 people across sites in the UK, Germany, Sweden, Switzerland, Canada and the USA. INEOS Enterprises is not part of the INEOS Group Holdings bank group. Visit ineosenterprises.com to learn more.