Ineos finds buyer for Barex assets

The polymers start-up MSM Poly has agreed to buy intellectual property related to Ineos’s Barex, a copolymer of acrylonitrile and methyl methacrylate used in food and drug packaging for its excellent barrier properties. In recent years, however, food companies have opted for less expensive substitutes, prompting Ineos to decide to close its Barex plant in Lima, Ohio, by the third quarter of this year. MSM would like to establish production of the copolymer at a Tiarco Chemical custom manufacturing facility in Greenville, S.C., to serve pharmaceutical customers that still depend on it. In addition to IP, MSM will get physical assets, commercial and operations support, and a supply of Barex.