Issue Date: June 11, 2007
Ineos Will Buy Norwegian Units
The chemical giant Ineos is acquiring the Norwegian petrochemical business of Borealis for roughly $380 million. The deal includes 50% of the Noretyl ethylene cracker at Rafnes and associated businesses at the nearby Bamble polyolefins site. The purchase gives Ineos full ownership of the Rafnes cracker; last month it acquired the cracker's co-owner, the Kerling polymers business of Norsk Hydro. According to Ineos, the acquisition allows it to optimize operations across Scotland, Belgium, the Netherlands, Germany, and France.
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