Ineos Enterprises has completed the acquisition of the chemical intermediates business of the Flint Hills Resources, based in Joliet, Illinois.
The transaction which was agreed 26 Sept and completed on 1 Dec sees the business, workforce and the production facilities in Joliet transferring to Ineos Enterprises, where it will trade as Ineos Joliet.
The acquired business manufactures purified isophthalic acid (PIA), trimellitic anhydride (TMA) and maleic anhydride (MAN) at its production facility located near Chicago, and has offices and distributions centres located in the US, Europe and Asia.
The products are used in a diverse range of end-use applications such as coatings, clothing, paints and gasoline additives.
“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,” said Ashley Reed, CEO Ineos Enterprises.
Ineos Enterprises is comprised of a portfolio of businesses manufacturing and distributing chemical products from its facilities and offices in Europe, the US, Canada, and Asia with global sales of more than €1bn.
The UK-based company, a subsidiary of Ineos AG, is focused on meeting the developing needs of its customers and rapid growth both through acquisition and through investment in new manufacturing facilities/products.