INEOS Enterprises to acquire 35-site concrete additives business from Sika AG in order for them to complete acquisition of MBCC Group’s Admixture Business

INEOS Enterprises to acquire 35-site concrete additives business from Sika AG in order for them to complete acquisition of MBCC Group’s Admixture Business

(PRESS RELEASE) LONDON, 16-Jan-2023 — /EuropaWire/ — INEOS, a global chemical company, has announced that its subsidiary INEOS Enterprises, the operator of Europe’s largest compounds site, will acquire a major concrete additives business from Sika AG. The business, which has $1 billion in sales and includes 35 manufacturing sites in the US, Canada, Europe, UK, Australia, and New Zealand, employs more than 1600 people and has sales offices in 36 countries.

The divestment by Sika is necessary to complete its acquisition of MBCC. INEOS Enterprises has signed an agreement to acquire MBCC Group’s Admixture Business from Sika AG. 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 $1 billion.

The business employs more than 1600 people, who 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 be completed in the first half of this year.

The acquisition of the concrete additives business will further strengthen INEOS Enterprises’ position in the construction industry and expand its global presence. The business’ well-invested operations, broad chemicals portfolio, and established presence in key markets make it an attractive acquisition for INEOS. The acquisition is expected to benefit both companies and their customers.

Ashley Reed, CEO INEOS Enterprises: “I am very pleased to have agreed the acquisition of MBCC’s Admixture business, these well invested and well positioned sites, present new opportunities for INEOS to grow in the construction market. We have a strong track record of manufacturing excellence, running businesses safely and reliably and working closely with customers to meet their growth aspirations. I very much look forward to welcoming the business into INEOS.”

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.”

ENDS.

Media Contacts

Richard Longden (Richard.longden@ineos.com)      +41 7996 26123
Andrew McLachlan (andrew@mediazoo.tv)             +44 7931 377162
Alex Williams (alex.williams@mediazoo.tv)             +44 7793 207325

SOURCE: INEOS Group