INEOS Enterprises to acquire ASHTA Chemicals Inc. from Bigshire Mexico
INEOS Enterprises has announced an agreement to acquire ASHTA Chemicals Inc, from Bigshire Mexico S. de R.L. de C.V. The deal, which consists of a 100ktpa potassium hydroxide (KOH)/65 ktpa chlorine plant, is targeted to close before the end of 2022, subject to regulatory approvals.
ASHTA Chemicals manufacture and market chlorine and a range of potassium-based chemicals to a wide variety of end use markets including liquid fertilizers, runway de-icers, food ingredients, pharmaceuticals, and agricultural applications. The business employs around 110 people at its site in Ashtabula, Ohio, close to the INEOS Pigments operations, from where it operates a recently commissioned membrane cell technology chlor-alkali unit.
Commenting on the agreement, Ashley Reed, CEO INEOS Enterprises said “Once completed we believe the deal presents an excellent strategic fit for the long-term local supply and use of chlorine between ASHTA and INEOS Pigments. In addition, ASHTA Chemicals will bring a well-established and respected North American potassium hydroxide business into the INEOS Enterprises portfolio.”
Ruy Zavala, CFO of Bigshire Mexico said “ASHTA has undergone significant investments in the past few years under Bigshire’s ownership, most notably the construction and commissioning of a modern membrane cell chlor-alkali plant which utilizes INEOS’ BichlorTM technology. We believe the next phase of ASHTA’s development can be well progressed under INEOS ownership and the complementary strategic fit that will be created will further improve the long-term sustainability of the company and its employees.”
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