LYNDHURST, England (March 14, 2008) — Chemicals company Ineos has agreed to purchase BASF p.l.c.'s Seal Sands manufacturing facility.
The acquisition is being made by Ineos Nitriles Ltd., and is conditional on approval from the relevant antitrust authority, Ineos said. The value of the deal was not disclosed.
The Seal Sands site provides large-scale production facilities for acrylonitrile, adipodinitrile and hexamethylenediamine, along with by-product plants. These chemical intermediates are used in the production of acrylic and polyamide fibers for clothing and carpets, as well as for acrylonitrile-butadiene-styrene and polyamide plastics for the automotive, electric and electronics,and domestic appliance industries.
The acrylonitrile plant at Seal Sands currently produces around 230,000 metric tons per year, with the majority of product being used to supply three BASF downstream businesses, one of which is also located at Seal sands. The others are located in Antwerp, Belgium; and Ludwigshafen, Germany.
The acquisition fits well with Ineos Nitriles' capabilities and expertise in the acrylonitrile and associated businesses, the company added.