Chemistry, Esseco industrial of Novara buys Inovyn from the English Ineos

In a delicate phase for the chemical sector, squeezed between high energy costs and non-European competition, there are those who invest and expand production. This is the case of the Esseco Group of Novara, owned by the Nulli family, active in basic chemistry with ten plants and 1,300 employees, which through the Esseco Industrial division has signed an agreement with the English company Ineos, one of the largest chemical groups in the world, to acquire the company Inovyn Produzione Italia.

The company owns plants in Rosignano (Livorno) and Tavazzano (Lodi) where it produces sodium hypochlorite, caustic soda, hydrochloric acid and other chlorine derivatives. Rosignano, in particular, is Italy's largest chlor-alkali plant, with production of caustic soda and chlorine and over 160 employees. Tavazzano, on the other hand, is a small plant specialising in the production of sodium hypochlorite. The transaction, the value of which was not disclosed, was carried out by Ineos through Kerling NewCo 1 Limited. The workers involved in the transfer of ownership will be 178.

This is a significant step in the industrial consolidation of the Esseco Group,' says a note, 'which will allow for an increase in electrolytic capacity. The closing is subject to the conditions precedent stipulated in the agreements between the parties. Inovyn's research and development activity in Rosignano will remain the property of Ineos and will be separated.

Esseco Industrial has eight production plants in Europe and South America and specialises in the production of chlor-alkali, potassium derivatives and sulphur derivatives, with a turnover close to 600 million euros. The Esseco Group is one of the world leaders in additives and adjuvants in the wine sector, productions that add to those for the agro-food, pharmaceutical, detergent, rubber and paper industries.

The sale by Ineos has taken the unions by surprise. The CEO of Ineoas Inovyn, Stephen Dossett, explained it by pointing to a review of the European assets that would not affect the core business and would allow resources to be concentrated on the core business, particularly pvc where Ineos is a leader.