Home / Knowledge / News / Textiles / INEOS completes purchase of Hydro Polymers from Norsk Hydro
INEOS completes purchase of Hydro Polymers from Norsk Hydro
13
Feb '08
Following clearance by the European Commission, INEOS Capital has successfully completed the purchase of the Hydro Polymers businesses in Norway, Sweden and the United Kingdom from Norsk Hydro ASA.

The acquisition also includes the remaining 50% interest in the Noretyl ethylene cracker at Rafnes, following the acquisition by INEOS Group in 2007 of the 50% share held by Borealis.

The newly acquired chlor-alkali, PVC and compounds businesses have excellent synergies with INEOS's existing portfolio and will now be integrated into the INEOS ChlorVinyls and INEOS Films & Compounds businesses.

"This investment enhances our operational efficiencies and over time will substantially improve our position across the chlor-vinyls and compounds businesses," said Jim Ratcliffe, Chairman of INEOS. "The acquisition is highly compatible with our existing businesses and brings with it well placed assets, complemented by an experienced operations team and high safety, health and environmental standards."

Comments Chris Tane, CEO INEOS ChlorVinyls: "We are pleased to have completed this acquisition, which represents a major step forward for our chlor-vinyls business and makes us the clear market leader in Europe."

Renato Cipollini, CEO INEOS Films & Compounds, added: "This is an important acquisition that supports the ongoing development of our Compounds business in Europe. Bringing these new facilities into the INEOS Films & Compounds business will help us extend our expertise and meet the growing needs of our customers across a broad range of markets."

INEOS is the world's third largest chemicals company with sales approaching $45 billion. A leading global manufacturer of petrochemicals, specialty chemicals and oil products, the Company comprises 19 businesses each with a major chemical company heritage.

Following this acquisition, INEOS now has 16,600 employees worldwide and its production network spans 76 manufacturing facilities in 20 countries.

INEOS

Must ReadView All

Textiles | On 7th Dec 2016

New Texprocil chairman bats for increased UPI adoption

Ujwal Lahoti, the new Cotton Textile Export Promotion Council...

RBI Governor Urjit Patel addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

Defying expectations, RBI keeps repo rate unchanged

Defying market expectations, the Monetary Policy Committee (MPC) of...

The new OJ 59/1 B. Courtesy: Karl Mayer

Textiles | On 7th Dec 2016

Karl Mayer unveils new LACE.EXPRESS model for apparel

Germany’s leading textile machinery firm, Karl Mayer, has launched a...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Ashok Desai
Bombay Textile Research Association

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

Giorgio Mantovani
Corman S.p.A

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Igor Chapurin
Chapurin

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search