India’s LANXESS ABS to become INEOS ABS
08 May 2008 16:43 [Source: ICIS news]
NEW DELHI (ICIS news)--LANXESS ABS Limited (LAL) will change its name to reflect its identity with its new majority owner, UK British chemical group INEOS, the company said on Thursday.
The company has tentatively decided to rechristen itself as INEOS ABS (
INEOS ABS (Jersey), a wholly owned subsidiary of INEOS Group, holds a 83.33% stake in LAL after completion of its takeover in March 2008.
LAL would next month seek shareholder approval for the proposed change in name.
It could not be ascertained whether INEOS would also rename its other subsidiary Caprihans India Limited (CIL), which produces both rigid and flexible PVC films and multi-polymer extruded sheets.
INEOS group is gradually unveiling a new business strategy for
LAL commissioned expanded acrylonitrile-butadiene-styrene (ABS) compounding capacity of 80,000 tonnes/year in February 2008, according to company’s latest annual report for 2007.
It had earlier planned to achieve this milestone by June 2007 and ramp up ABS resins capacity to 100,000 tonnes/year in 2008.
LAL also produces ABS intermediate styrene acrylonitrile (SAN) for direct sale at three sites in
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By: Naresh Minocha
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