INEOS acquires major concrete additives business from Sika

• The business has $1bn sales and includes 35 manufacturing sites in US, Canada, Europe, UK, Australia, and New Zealand.
• It employs more than 1600 people with sales offices across 36 countries.
• The divestment by Sika is necessary to complete its acquisition of MBCC

INEOS Enterprises has today 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, 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.

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.

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