European Commission clears way for INEOS Enterprises to acquire Sasol’s German based European Solvent Business
- The acquisition comprises production facilities in Germany, based at Herne and Moers, employing around 520 people.
- The new businesses provides a complementary fit with INEOS' portfolio and expertise and provides opportunities to integrate into its existing manufacturing sites in Germany.
The European Commission has today unconditionally approved the acquisition by INEOS Enterprises of manufacturing plants and the associated European solvents business of Sasol Solvents Germany GmbH, one of Europe’s leading solvent manufacturers.
The acquisition will comprise production facilities in Germany, based at Herne and Moers, employing around 520 people.
The addition of Sasol’s German based European Solvents businesses provides a complementary fit with the portfolio and expertise of INEOS and opens up the possibility of integration into its existing manufacturing sites in Germany.
The facility at Herne, in Germany's industrial Ruhr district, manufactures ethanol and isopropyl alcohol (IPA), as well as catalysts for both processes.
The Moers site, on the Lower Rhine, primarily produces oxygenated solvents IPA and secondary butyl alcohol (SBA), which is upgraded on site into methyl ethyl ketone (MEK). The plant also produces a range of other chemicals.
"Today's decision by the Commission clears the way for INEOS Enterprises to move forward with this exciting deal. The solvents business we are acquiring from Sasol is highly complementary to our portfolio and presents new opportunities for integration into some of our existing upstream sites in Germany," said Ashley Reed, CEO of INEOS Enterprises.
"These are good quality, well placed assets, complemented by a very experienced operations team and high safety, health and environmental standards."
On completion of the transaction, which is expected in Q2 2014, both sites will become part of INEOS Enterprises.
INEOS will also continue to operate the maleic anhydride plant at the Moers site for the ongoing joint venture between Sasol and Huntsman. This building block for unsaturated polyester resins is used mainly in fibreglass reinforced resins for construction, automotive and marine products.The value of the deal is not disclosed.
INEOS Enterprises is a standalone business, a part of INEOS AG.
ENDS
For further information contact:
Richard Longden
Phone: +41 (0) 799 626 123
email: richard.longden@ineos.com
INEOS Enterprises ( http://www.ineosenterprises.com ) is a portfolio of ten businesses manufacturing chemical products in Northern Europe, with sales around the world. The Company is focused on the developing needs of customers and rapid growth through investment in new products and manufacturing facilities or by acquisition. INEOS Enterprises now employs some 800 people across sites in the UK, France, Germany
Sasol Limited (http://www.sasol.com )
Committed to excellence in all we do, Sasol is an international integrated energy and chemical company that leverages the talent and expertise of our more than 35 000 people working in 37 countries. The company develops and commercialises technologies, and builds and operates world-scale facilities, to produce a range of product streams, including liquid fuels, chemicals and electricity. While remaining committed to its home-base of South Africa, Sasol is expanding internationally based on a unique value proposition.