Ineos Inovyn: Sale of Italian Business to Esseco

British chemicals group Ineos is selling its chlor-alkali business in Italy to the holding company Esseco Industrial.

According to a press release, the group subsidiary Ineos Inovyn recently signed a corresponding agreement. No information was provided on the financial volume or further details of the deal, which still requires approval from the relevant regulatory authorities. The transaction is expected to be completed in the course of this year.

According to the release, Esseco Industrial will acquire two production sites in Rosignano near Livorno and Tavazzano near Milan through the company Inovyn Produzione Italia. In Rosignano, Inovyn produces mainly chlorine and caustic soda with around 160 employees; according to company information, the plant is the largest chlor-alkali facility in Italy. At the Tavazzano site, sodium hypochlorite is produced with about 25 employees. The research and development capacities in Rosignano will remain with Ineos Inovyn and are to be carved out before the sale is completed.

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Ineos Inovyn CEO Stephen Dossett said: “Rosignano and Tavazzano have been an important part of Ineos Inovyn thanks to the commitment, professionalism and strong safety culture of their employees. The sale to Esseco Industrial follows a strategic review of our European assets and has no impact on our core operating activities. The sale enables Inovyn to focus on its highly integrated European PVC and chlor-alkali businesses. We are confident that the sites will continue to grow and succeed under Esseco’s ownership in the coming years.”

Esseco Industrial is part of Italy’s Esseco Group and brings together eight production sites in the chemical industry in Italy, Germany (Addcon in Bitterfeld), the UK, Norway and Brazil, including two chlor-alkali plants in Pieve Vergonte and Saline di Volterra. According to the Trecate-based company near Novara, the acquisition of Inovyn Produzione Italia will double the production capacities of the chlor-alkali division Altair Chemical.

More information: www.ineos.com, www.inovyn.com, www.essecoindustrial.com

Ineos Inovyn, Rheinberg

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