Posted in | News | Coatings and Thin Films

INEOS acquires Cytecs Surface Specialties Amino Resins Business

Jun 29 2005

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INEOS Capital has announced the acquisition of Cytecs Surface Specialties Amino Resins business. The business comprises manufacturing facilities at Frankfurt, Germany and Indian Orchard, Massachusetts, USA, producing melamine based specialties for the coating, tyre and woodworking industries.

The business employs 160 people globally. During 2004 the business generated sales of ca EUR 130 million.

Completion of the transaction awaits approval by the competition authorities in the US and Europe.

"This business meets our acquisition criteria having excellent people, assets and market positions and the heritage of a major chemical company. Furthermore, the business offers genuine synergies with INEOS Paraform, also located close to Frankfurt, in the formaldehyde and derivatives field", according to INEOS CEO and Chairman, Jim Ratcliffe.

http://www.ineos.com

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