Ineos completes purchase of LyondellBasell’s ethylene oxide and derivatives business

Ineos Oxide and Houston-based chemical company LyondellBasell have completed the sale of the latter’s ethylene oxide and derivatives (EO&D) business and associated production facilities located in Bayport, Texas.

The closing of the transaction follows the completion of planned maintenance at the Bayport facility and satisfaction of regulatory and other customary closing conditions. The Bayport EO&D business produces high-purity ethylene oxide and associated derivatives. Ineos says access to cost-advantaged feedstocks and logistics networks contributes to its excellent performance and market reputation.

RELATED: LyondellBasell acquires PreZero mechanical recycling assets, plans California operations

Part of the London-based Ineos Group, Ineos Oxide produces ethylene and propylene-based chemicals and currently operates four production facilities in Belgium, France, Germany and Louisiana.

“We are pleased to complete this strategic acquisition in the U.S.,” Ineos Oxide CEO Tobias Hannemann says. “Ineos Oxide is a leading producer in Europe and this significant step expands our ethylene oxide and derivatives business into the U.S., which is the world’s largest market. It also complements our existing ethanolamines production facility in Plaquemine, Louisiana.”

Hannemann adds that land is available on the Bayport site to allow for growth. “It is an ideal location to develop our third-party business supporting customers to co-locate and integrate into an existing ethylene oxide and derivatives platform,” he says. “We look forward to incorporating the business, site and team of very professional and highly motivated people within the global Ineos Group.”

RELATED: Collaboration leads to launch of film packaging made with recycled plastic

LyondellBasell CEO Peter Vanacker says, “This divestiture of the EO&D business demonstrates progress against our company strategy and allows us to focus on further strengthening our core businesses. We are confident that the EO&D team will continue to thrive under new ownership and remain committed to collaborating closely with Ineos for a seamless transition.”