INEOS Enterprises has completed the acquisition of the chemical intermediates business of Flint Hills Resources (‘Flint Hills Resources Joliet’).
The transaction which was agreed on the 26 September and completed on 1 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 US are distributed globally and used in a diverse range of end use applications such as coatings, clothing, paints and gasoline additives.
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.
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”