TITLE

INEOS agrees deal for Lanxess ABS

PUB. DATE
July 2007
SOURCE
ICIS Chemical Business;7/9/2007, Vol. 2 Issue 74, p23
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Ineos Polyolefins has agreed to acquire the Lustran Polymers acrylo-nitrile-butadiene-styrene (ABS) unit of Lanxess in two stages by 2009. Initially, the British group will pay $48m for a 51% stake in a joint venture to be incorporated as INEOS ABS at end of 2007's third quarter. After posting its first profit of 16 million in 2006 on sales of around 900 million, the ABS unit is projected to earn 40 million.
ACCESSION #
26745896

 

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