01 February 2008 16:22 [Source: ICIS news]
LONDON (ICIS news)--INEOS Capital has completed its purchase of Norske Hydro’s Hydro Polymers business following approval from the European Commission earlier in the week, the UK parent company INEOS Group announced on Friday.
No financial details were disclosed.
“The acquisition also includes the remaining 50% interest in the Noretyl ethylene cracker at Rafines, following the acquisition by INEOS in 2007 of the 50% share held by Borealis,” the company said in a statement.
“This investment enhances our operational efficiencies and over time will substantially improve our position across the chlor-vinyls and compounds businesses,” said INEOS chairman Jim Ratcliffe.
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