Ineos Will Acquire Mitsui Polymer Line

Ineos is buying Mitsui Chemicals’ polyacrylonitrile business. Mitsui makes the polymers, used largely in personal care and pharmaceutical packaging, in Nagoya, Japan. Ineos intends to substitute its own Barex products—made in Lima, Ohio, and based on acrylonitrile-methyl acrylate resins—for the Mitsui materials. Mitsui will continue to make polyacrylonitrile in Nagoya until customers approve the Ineos products. Ineos says that its Barex products are primarily sold in North America and Europe and that the acquisition will help it make inroads in Asia. The deal is expected to be completed in August.