Ineos Enterprises will buy a North American titanium dioxide (TiO2) business from Tronox Ltd. for $700m (€619m).
The deal includes two plants in Ashtabula, Ohio.
Stamford, Connecticut-based Tronox needs to sell the business to clear its purchase of the global TiO2 business of National Titanium Dioxide Co. Ltd., which operates as Cristal. Cristal is based in Jeddah, Saudi Arabia.
Ineos Enterprises is part of London-based Ineos, a global producer of plastics and speciality chemicals, whose products include polyethylene and polypropylene. TiO2 is commonly used as a whitener in plastics and many other products.
The proposed sale of the North American business to Ineos has received support from Cristal and Tronox’s North American customers and will make Ineos the second largest producer of this essential product in the US, Ineos officials said in a 19 March news release.
The acquisition “is a great opportunity for Ineos to enter the pigments market and become the second largest producer of titanium dioxide in the key North American market,” Ineos Chairman Jim Ratcliffe said in the release.
Cristal’s North American TiO2 unit “is a competitive business, with excellent people and assets,” Ineos Enterprises CEO Ashley Reed added.
Ineos employs 20,000 globally and has annual sales of around $60bn (€53bn).
By Frank Esposito
Source: Plastic News Europe
BASF will build a commercial scale battery recycling black mass plant in Schwarzheide, Germany. This investment strengthens BASF’s cathode active materials (CAM) production and recycling hub in Schwarzheide. The site is an ideal location for the build-up of battery recycling activities given the presence of many EV car manufacturers and cell producers in Central Europe.
Clariant says it is reducing its number of businesses from five to three, by merging units, under a reorganization that is in line with the company’s purpose-led strategy and cultural transformation. The moves will position Clariant for long-term sustainable growth, the company says.
Chemicals & plastics industry has the most diversified end-use market across all manufacturing industries. The industry returned to growth in 2021 but a supply chain crunch prevented it from becoming stronger. The market is likely to stabilize in the second half of 2022 with a supply-demand balance.