INEOS Sells Composites Business
On December 2, INEOS Group announced that it has reached an agreement with KPS Capital Partners (KPS) to sell INEOS Composites business to KPS for 1.7 billion euros (about 13 billion yuan). The transaction is expected to be completed in the first half of 2025.
INEOS Composites is a global manufacturer of unsaturated polyester resins, vinyl ester resins and gel coatings with annual sales of more than 800 million euros. It has 17 factories and 3 technical centers in Europe, North America, South America, Asia and the Middle East, and employs approximately 900 people.
In 2018, Ineos announced the acquisition of Ashland's entire composites business and its European BDO business for US$1 billion. Ashley Reid, Chairman of INEOS Enterprises, said: “Composites have been part of INEOS Enterprises over the past.
It has made significant improvements in safety and financial performance in five years and during this period.
Group is a global chemical company with chemical production bases in Northern Europe, the United States and Canada, with annual sales of 2.7 billion euros and approximately 3,100 employees.
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