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INEOS Silicas to increase prices for silica product lines by 10% to 15% |
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INEOS Silicas is to increase global prices for all silica gel and precipitated silica products by 10% to 15%, effective from 1st July 2008, or as contracts permit. "Despite significant focus on cost saving and efficiency measures, we are unable to continue to absorb unprecedented across-the-board cost increases" said CEO, Dr Iain Hogan. "In addition to significant uplifts in oil, gas and electricity prices, raw materials such as soda ash, caustic soda and sulphuric acid continue to climb relentlessly", he added. More detailed information will be communicated directly to customers on a local basis.For more information please contact: Suzanne Urey (Product Manager) June 2008
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INEOS and The Carlyle Group complete the agreement to combine INEOS Silicas and PQ Corporation |
Following clearance by the competition authorities, INEOS has completed the agreement to combine INEOS Silicas and PQ Corporation, the speciality chemical company owned by The Carlyle Group. The Carlyle Group will hold a 60% share and INEOS Capital the remaining 40% of the new company. The new company is to be called PQ Corporation. It will be a global producer of speciality inorganic chemicals, catalysts, and engineered glass products and is expected to have annual sales of around US$1 billion. Mike Boyce will assume responsibility as Chairman and Chief Executive Officer. The announcement follows an agreement made between the two companies on the 11th October 2007. Operating under single ownership presents both businesses with new opportunities for innovation and growth that will provide significant customer benefit.INEOS and The Carlyle Group will now begin the process of integrating the businesses into the new PQ Corporation. "We are delighted to have concluded this agreement as it represents another important step for INEOS and the long-term development of the Silicas business", said Andy Currie, Director of INEOS Capital, "INEOS Silicas business fits well within the PQ portfolio and provides greater geographical reach and presence to customers across a number of market sectors".
For further information contact:
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INEOS Silicas purchases Millennium's Silica Gels Business . |
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On Friday 18th May 2007 INEOS Silicas signed an agreement to acquire the global silica gels business of Millennium Chemicals Inc, USA. The transaction should be completed by the end of the month. Millennium supplies into the surface coatings, inkjet, antiblock and beverages markets under the SilCRON® and Sil-PROOF® brand names. It is therefore a very good fit with our existing silica gels business. The SilCRON® and Sil-PROOF® brands will be maintained and Millennium will continue to produce material on behalf of INEOS Silicas in the short term. Manufacture will be transferred to Warrington, Joliet and Rio Claro by the end of the year. A detailed plan is in place to ensure the smooth transfer of customers and products. This acquisition has enabled us to accelerate our business' strategy to grow our speciality silicas business. The successful transfer of production to our sites will ensure that we can quickly maximise the utilisation of our existing assets and generate a much improved EBITDA performance going forward.: INEOS Silicas Board
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