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  • INEOS Enterprises completes the acquisition of the Flint Hills Intermediates business
    édité le 03/12/2018 - Plus de news de "INEOS" - Voir la fiche entreprise de "INEOS"


INEOS Enterprises completes the acquisition of the Flint Hills Intermediates business
INEOS Enterprises has completed the acquisition of the chemical intermediates business of Flint Hills Resources (known as ‘Flint Hills Resources Joliet’).

The transaction which was agreed on the 26th September and completed on 1st December 2018 sees the business, workforce and production facilities transferring to INEOS Enterprises, where it will trade as INEOS Joliet.

The business manufactures purified Isophthalic acid (PIA), trimellitic anhydride (TMA) and maleic anhydride (MAN) at its production facility located near Chicago, Illinois and has offices and distributions centres located in the USA, Europe and Asia. The products made in the USA are distributed globally and used in a diverse range of end use applications such as coatings, clothing, paints and gasoline additives.

Ashley Reed, CEO INEOS Enterprises said: “I am very pleased to have completed the acquisition of the Flint Hills Intermediates business and I look forward to working with its people as we integrate the business into INEOS Enterprises”

INEOS Enterprises is comprised of a portfolio of businesses manufacturing and distributing chemical products from its facilities and offices in Europe, USA, Canada, and Asia with global sales of more than €1bn. INEOS Enterprises is focused on meeting the developing needs of its customers and rapid growth both through acquisition and through investment in new manufacturing facilities/products.

About INEOS

INEOS www.ineos.com is one of the largest chemicals companies and the 200th largest businesses in the world. It employs around 19,300 people across 181 sites in 22 countries with sales in 2017 of $60bn and EBITDA close to $7bn. The company has grown rapidly in the petrochemicals sector over the past 20 years, with more recent focus broadening its activity into the Upstream E&P sector.

INEOS is currently a Top 10 company and the biggest private enterprise operating in the North Sea. Its oil and gas activities comprise six different businesses including INEOS Shale, focused on onshore gas development; INEOS Oil & Gas UK operating in the UK southern North Sea as well as non-operated assets West of Shetland; INEOS FPS, which runs the Forties Pipeline System, recently acquired from BP; INEOS Upstream Services; INEOS Oil & Gas Denmark and INEOS Oil & Gas Norway running assets recently acquired from DONG Energy . It has about 1000 employees and capabilities to take on further projects and growth.

About Flint Hills Resources

Based in Wichita, Kansas, Flint Hills Resources is an independent company and wholly owned subsidiary of Koch Industries, Inc., one of the largest private companies in America. According to Forbes magazine, the estimated annual revenues of Koch Industries, Inc. are as high as $100 billion. The company traditionally reinvests 90 percent of earnings back into its businesses ranging from transportation fuels, fertilizers, process and pollution control equipment and technologies, minerals, energy, ranching and more.


Origine : Communiqué INEOS

Voir la fiche entreprise de "INEOS"



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