INEOS completes sale of fluorochemicals business to Mexichem

31 March 2010 15:57  [Source: ICIS news]

TORONTO (ICIS news)--INEOS has completed the sale of its fluorochemicals business to Mexichem Fluor, a subsidiary of Mexico's Mexichem, the UK-based petrochemicals major said on Wednesday.

The sale, announced last month, included the international business and assets related to INEOS’ fluorochemical operations in North America, Europe, and Asia, it said without disclosing financial terms.

INEOS’ activities related to fluorspar and to the “Clean Development Mechanism” under the Kyoto protocol were not included. Those activities would become a part of the INEOS Enterprises business, it said.

The disposal was part of INEOS' strategy to focus on its large-scale petrochemicals businesses, it said.

Mexichem is described as a leading Latin American producer of polyvinyl chloride (PVC) pipes and resin, chloralkali, hydrofluoric acid and fluorspar.

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By: Stefan Baumgarten
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