UpdateINEOS Nitrile to buy BASF's Seal Sands site

13 March 2008 15:28  [Source: ICIS news]

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LONDON (ICIS news)--UK petrochemicals company INEOS Nitriles is to buy BASF’s Seal Sands site in Teesside, which includes an acrylonitrile (ACN) plant, the German chemicals company said on Thursday.

 

“The acquisition is conditional on approval by the relevant competition authorities,” BASF said.

 

No financial details were disclosed.

 

The site has production facilities for acrylonitrile, adiponitrile (ADN) and hexamethylene diamine (HMD) and by-products but the HMD and ADN plants had been excluded from the transaction, BASF said.

 

However, INEOS was to operate both the the HMD and ADN plants for BASF, it added

 

The ADN plant is due to be shut down permanently at the end of 2008 as announced by BASF last June after an external supply agreement was signed with Invista.

 

"The sale of the Seal Sands site is part of our approach to focus on the core assets of our polyamide value chain,” said BASF performance polymers division president Dr Harald Lauke.

By: Lucy Craymer
+44 20 8652 3214

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