 "Ineos acquires Arkema's oxo alcohol business")
As part of the program to divest € 700 million sales, Arkema has sold its 50 percent stake in Oxochimie (a JV between Arkema and Ineos that manufactures oxo alcohols) and the associated business to Ineos.
Arkema produces oxo alcohols (butanol and 2-ethyl hexanol) on the Lavera site (France) in a 50:50 manufacturing joint venture with Ineos. These products are used in part for the production of Arkema’s acrylic esters in Europe. They are also sold on the free market for annual sales of some € 40 million. As per the deal, Ineos will continue to supply Arkema’s acrylic esters units.
Graham Beesley, CEO, Ineos Oxide, said, “Oxo alcohols are a core business for Ineos Oxide, both supplying the European and global markets and supporting the manufacturing of our fast growing downstream intermediates businesses. We look forward to integrating the Oxochimie joint venture and growing our global market presence in oxo alcohols, aldehydes & derivatives.”
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