1 September 2015
DETAILS
INEOS Americas LLC
has today announced that it has acquired
the aromatics business
from Axiall Corporation (NYSE: AXLL),
a leading integrated North American chlorvinyl and aromatics manufacturer.
$52.4 million was paid at closing and an additional
$10.5 million may be payable after closing
upon satisfaction of certain conditions.
The transaction became effective
at the end of day on (23:59 ET) 30 September 2015.
The acquisition, comprises
* the cumene plant, based in Pasadena, Texas,
producing 900,000 tonnes of product and
employing around 43 people.
In addition the phenol, acetone and alpha-Methylstyrene business
will transfer to the INEOS Phenol facility at Mobile, Alabama.
The addition of Axiall’s Aromatics business and cumene assets
provides a close fit with the portfolio and expertise of INEOS Phenol.
For further information contact:
INEOS:
Richard Longden
(t) +41 (0) 21 627 7063
(m) +41 799 626 123
Axiall Investor Relations Contact:
Martin Jarosick,
+1-770-395-4524
Axiall Media Contact:
Chip Swearngan,
+1-678-507-0554
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