MOSCOW (MRC) -- WL Plastics, a subsidiary of UK petrochemicals major INEOS, has acquired the polyethylene (PE) pipe extrusion assets of Charter Plastics in Titusville, Pennsylvania, said the company.
Charter's Titusville site and associated assets can produce a range of PE pipe for end-uses such as potable water, reclaimed water, sewer, geothermal, gas, irrigation, and industrial applications. Financial terms were not disclosed.
This strategic acquisition provides the opportunity for WL Plastics to further diversify its product offerings, expand its customer base, and enter new regional markets. The Titusville site and associated assets have the capability of producing a broad range of polyethylene pipe for numerous end-uses including potable water, reclaimed water, sewer, geothermal, gas, irrigation, and industrial applications.
"We are delighted to bring such an established and well-positioned asset kit into the broader manufacturing base of WL Plastics,” said Mark Wason, CEO of WL Plastics. “We are excited to be a part of the Titusville community."
As per MRC, Ineos Styrolution's expanded acrylonitrile butadiene styrene (ABS) manufacturing facility at Wingles, France will be operational in the first quarter of 2022. Initially, Ineos announced plans to convert one of its three existing polystyrene production lines in mid-2018 (PS) to the ABS line with an expected capacity of about 50 thousand tons per year.
The original planned deadline for the expansion was the third quarter of 2020, but this has been delayed due to the coronavirus pandemic.
WL Plastics is a wholly owned subsidiary of INEOS USA LLC d/b/a INEOS Olefins & Polymers USA, which is part of the INEOS Group, one of the world’s leading manufacturers of petrochemicals, specialty chemicals, and oil products. WL Plastics, with eight high density PE pipe production facilities in the US, was acquired by INEOS in 2016.
MRC