INEOS Enterprises to sell composites business for about $1.79 bln

Reuters

2024/12/03

Dec 3 (Reuters) - Chemical products maker INEOS Enterprises said on Tuesday it would sell INEOS Composites, maker of specialty composite resins, for an estimated 1.7 billion euros ($1.79 billion) at completion, to investment fund KPS Capital Partners.

INEOS Enterprises, part of British billionaire Jim Ratcliffe-owned INEOS, said the composites business had combined sales of more than 800 million euros per year and a workforce of about 900 employees across 17 sites in Europe, North and South America, Asia and the Middle East.

INEOS Composites sells a broad range of resins that helps products with corrosion and scratch resistance, fire retardancy, among other things.

($1 = 0.9501 euros)

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Vijay Kishore)

((Yadarisa.Shabong@thomsonreuters.com; +91 9742735150;))

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