Ineos to buy LyondellBasell’s EO business

LyondellBasell Industries has agreed to sell its ethylene oxide (EO) and derivatives business to Ineos for $700 million. The unit consists of a plant in Bayport, Texas, with an annual capacity to make 420,000 metric tons of EO, as well as derivatives such as ethylene glycol and glycol ethers. The business is not a strategic one for LyondellBasell and generates only about 1% of its earnings. Ineos makes ethylene oxide and derivatives in Zwijndrecht, Belgium, and sees the Bayport facility as its entry point into the US market.

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