Feb. 2, 2010
Mexican petrochemical giant Mexichem SAB said that it has reached an agreement to acquire Ineos Group's fluorine unit in a deal that will make it a leading producer of the chemical compound.
"This acquisition will allow for the integration of the largest producer of fluorite in the world and the second-largest global producer of hydrofluoric acid," Mexichem said in a statement.
The transaction is subject to the customary closing procedures, including regulatory approval in several countries. Terms of the deal, which includes assets in the U.S., Europe and Asia that employ 350 people, were not disclosed.
Mexichem said its fluorine business will generate annual sales of more than $500 million with the purchase of Ineos Fluor.
Mexican petrochemical giant Mexichem SAB said that it has reached an agreement to acquire Ineos Group's fluorine unit in a deal that will make it a leading producer of the chemical compound.
"This acquisition will allow for the integration of the largest producer of fluorite in the world and the second-largest global producer of hydrofluoric acid," Mexichem said in a statement.
The transaction is subject to the customary closing procedures, including regulatory approval in several countries. Terms of the deal, which includes assets in the U.S., Europe and Asia that employ 350 people, were not disclosed.
Mexichem said its fluorine business will generate annual sales of more than $500 million with the purchase of Ineos Fluor.
