Home / Knowledge / News / Textiles / Ineos completes agreement to acquire Sasol Solvents
Ineos completes agreement to acquire Sasol Solvents
02
Jun '14
Following clearance from the European Commission, INEOS Enterprises has successfully completed its agreement to purchase one of Europe’s leading solvent manufacturers, Sasol Solvents Germany. The acquisition includes production facilities at Moers on the Lower Rhine, and Herne in Germany's industrial Ruhr district. 
 
The addition of Sasol’s German based European Solvents businesses provides a complementary fit with the portfolio and expertise of INEOS and opens up new opportunities within its existing manufacturing sites in Germany. 
 
Both sites and their products will now be integrated into the new business to be called INEOS Solvents, itself a part of INEOS Enterprises. 
 
Ethanol and isopropyl alcohol are produced at Herne and oxygenated solvents isopropyl alcohol (IPA), secondary butyl alcohol (SBA), and methyl ethyl ketone (MEK) are produced at Moers. The Moers plant also makes plasticisers, synthetic resins and fine chemicals such as alkyl chlorides and aluminium organic compounds.   
 
 “We are extremely pleased that the acquisition of Sasol’s site has now completed to enable us to begin the integration of the business into INEOS Enterprises.” said Ashley Reed, CEO INEOS Enterprises.  The addition of this leading solvents business broadens our portfolio and presents new opportunities for integration into some of our existing upstream sites in Germany," 
 
The new business will be able to deliver new opportunities for innovation and growth that will provide significant benefit to its customers. 
 
“We are pleased to welcome our new colleagues to INEOS as we begin to position the new INEOS Solvents business in the marketplace. This acquisition allows us to quickly expand our solvents offer giving us new opportunities for growth that will benefit our customers across Europe,” says Wolf Haenel COO (Chief Operating Officer) managing the new INEOS Solvents business. “These are good quality, well placed assets, complemented by a very experienced operations team and high safety, health and environmental standards.” he adds. 
 

INEOS

Must ReadView All

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search