MOSCOW (MRC) -- INEOS Enterprises has today signed an agreement to acquire MBCC Group’s Admixture Business from Sika AG, said the company.
The admixture business is a leading producer of concrete additives essential for the construction industry, with well invested operations across 35 manufacturing sites and sales of around USD1 billion.
The business employs more than 1600 people, which produce and supply a broad chemicals portfolio for concrete manufacturing and underground construction, across the US, Canada, Europe, Australia and New Zealand.
The deal which is part of a required remedy process for Sika to acquire the MBCC Group, is subject to regulatory approvals and is targeted to complete in the first half of this year.
The deal will maintain the level of innovation, services and quality in chemical admixtures available to concrete producers.
Thomas Hasler, CEO of Sika: “The agreement with INEOS Enterprises marks a key milestone in Sika’s acquisition of MBCC Group. I am convinced that we have found a long-term home for the MBCC Group’s Admixture business. The perfect new owner who will further develop the business together with a talented and driven MBCC Group team. At the same time, Sika has taken a tremendous leap forward on its path to joining forces with MBCC Group and together we will strengthen our growth platform further.”
We remind, INEOS and SINOPEC have completed two of the four significant petrochemical deals announced earlier this year. The two deals are: SECCO joint venture. INEOS has acquired 50% of Shanghai SECCO Petrochemical Company Limited. ABS joint venture. INEOS and SINOPEC have also established a 50:50 joint venture for ABS (Acrylonitrile Butadiene Styrene), based on INEOS’ world leading proprietary ABS Technology.