Air Products buys ICI amines
15 Jan 2000
Air Products and Chemicals is to expand its position in the global amines market with the £67 million acquisition of ICI's methylamines and derivatives businesses.
The buy-out of the business, which has an estimated annual turnover of £53 million, follows Air Products' acquisition of ICI's worldwide ethyl and higher amines business in July last year.
Under the terms of the agreement 125 employees at ICI's Billingham site on Teesside will transfer to Air Products. The purchase includes the plant site and its product lines for methylamines, dimethylformamide (DMF), alkylalkanolamines, isopropanolamines and choline chloride. As part of the deal, Air Products will source alkyl-alkanoamines from ICI's Chocques plant in France.
Formal transfer of ownership is expected to take place at the end of the month once the transaction has received the necessary regulatory approvals.
