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Ineos Sells Fluorochemicals Unit to Mexichem for $350 Million

8:09 AM MST | February 2, 2010 | Natasha Alperowicz

Ineos says it has agreed to sell its Ineos Fluor unit to polyvinyl chloride (PVC) producer Mexichem (Mexico City). The deal includes Ineos’s fluorochemical operations in North America, Europe, and Asia. The unit once sold would have sales estimated at more than $500 million/year, Ineos says. The unit has been performing well, but it no longer fits with Ineos’s portfolio as the company "focuses its attention on its large-scale petrochemicals businesses.” Ineos declined to reveal the price but Reuters says the business was sold for $350...

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