INEOS set to acquire Ashland’s composite business

Composites are increasingly used in cars to reduce weight and improve efficiency. They also look great.

"Ashland's composite resins have been the materials of choice for the world's boat builders for 30 years, and with good reason" said Ashley Reed, CEO INEOS Enterprises. “They are light, strong and resistant to attack from chemicals and even fire. Unlike wood they don’t rot, unlike metal, they don’t corrode and unlike concrete, they don’t crack.”

The deal, which is subject to regulatory approval, includes 20 manufacturing sites in Europe, North and South America, Asia and Middle East, employing 1,300 people.

“We believe that they all have great potential for growth under INEOS ownership,” he said.