Markets :: Engineering Plastics :: Acrylonitrile butadiene styrene/SAN
Ineos to Buy Lanxess ABS Business
7:02 AM MDT | August 7, 2007 | Kerri Walsh
Ineos has agreed to buy Lanxess’s acrylonitrile butadiene styrene (ABS) business. Ineos says it will establish a joint venture with Lanxess to take over Lanxess’s ABS business, which is currently named Lustran Polymers. Ineos will pay Lanxess €35 million ($47.7 million) for an initial 51% stake in Lustran, and change the company’s name to Ineos ABS. That deal will close at the end of September, Ineos says. Ineos says it has appointed Gerd Franken CEO designate of Ineos ABS. Franken is currently business director at Ineos Polyolefins and...
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