INEOS Enterprises has completed the acquisition of the chemical intermediates business of Flint Hills Resources, known as Flint Hills Resources Joliet.
The transaction which was agreed upon on 26 September 2018 and completed on 1 December 2018 sees the business, workforce and production facilities transferring to INEOS Enterprises, where it will trade as INEOS Joliet.
The business manufactures purified Isophthalic acid (PIA), trimellitic anhydride (TMA) and maleic anhydride (MAN) at its production facility located near Chicago, Illinois, U.S.A., and has offices and distribution centres located in the U.S.A., Europe and Asia. The products made in the U.S.A. are distributed globally and used in a diverse range of end use applications such as coatings, clothing, paints and gasoline additives.
“I am very pleased to have completed the acquisition of the Flint Hills Intermediates business and I look forward to working with its people as we integrate the business into INEOS Enterprises,” Ashley Reed, CEO of INEOS Enterprises, said.
INEOS Enterprises is comprised of a portfolio of businesses manufacturing and distributing chemical products from its facilities and offices in Europe, U.S.A., Canada, and Asia with global sales of more than EUR1 billion (USD1.14 billion). INEOS Enterprises is focused on meeting the developing needs of its customers and rapid growth, both through acquisition and through investment in new manufacturing facilities and products.