03 September 2007 10:27 [Source: ICIS news]
“The acquisition of
“This not only increases our European manufacturing capacity but also gives us a share of a first-class gas cracker based at the heart of the Norwegian energy industry.”
The business includes a 50% interest in the Noretyl ethylene cracker at Rafnes and three polyolefin plants producing polypropylene (PP), low density polyethylene (LDPE) and high density polyethylene (HDPE) at the nearby Bamble site.
INEOS is also acquiring Norsk Hydro's Kerling petrochemicals business. The EC is expected to announce its ruling on that deal on Friday.
Last year, INEOS bought eythlene oxide/ethylene glycol (EO/EG) operations from BP in Germany.
($1 = €0.73)
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