Polyacrylonitrile co-polymers supplier, Ineos Barex has signed a binding agreement to purchase the Polyacrylonitriles Business from Mitsui Chemicals for an undisclosed amount.
The partnership deals with integrating complementary capabilities and synergies of both the companies and plans for the long term supply of PAN resin and Zexlon film to Mitsui customers across Asia.
Polyacrylonitrile resins are the licensed inert products that are produced by the Mitsui Chemicals.
The film and sheet applications consists both pharmaceutical and medical packaging sectors in the Asia Pacific region.
Ineos' polyacrylonitrile co-polymers are sold under the Barex Trademark basically in the markets of Europe and North America.
Barex is a specialized acrylonitrile-methyl acrylate co-polymer that has both US Pharmacopeia and FDA clearances for medical and pharmaceutical packaging.
On nearing the completion of the acquisition, Ineos will be responsible for sales and marketing to all Mitsui PAN resin and Zexlon film customers and to obtain necessary approvals and make the transition to Ineos Barex products.
Comprising the sales, marketing, and supply of PAN resin and Zexlon film, the deal is expected to be completed on 1 August, 2013.
