INEOS has finalized the takeover of Naphtachimie, Gexaro, and Appryl, formerly operating as joint ventures split evenly between INEOS and TotalEnergies at Lavera in Southern France.

This strategic decision entails acquiring Europe's premier steam cracker, which has a remarkable annual capacity of 720,000 tonnes of ethylene, in addition to an aromatics business producing 270,000 tonnes annually and a polypropylene business with a yearly capacity of 300,000 tonnes. Additionally, the transaction encompasses various other infrastructure assets, including a segment of TotalEnergies' ethylene pipeline network in France.

Xavi Cros, CEO of INEOS Olefins & Polymers South, expressed his contentment, highlighting, "We are thrilled to announce the successful completion of the acquisition of TotalEnergies’ petrochemical assets at Lavera. These assets are invaluable additions that will significantly strengthen INEOS' portfolio."

INEOS has completed the acquisition of TotalEnergies' 50% ownership in Naphtachimie, which includes a steam cracker with a capacity of 720 ktpa, Appryl featuring a 300 ktpa polypropylene business, Gexaro with a 270 ktpa aromatics business, and 3TC comprising naphtha storage, as originally disclosed on July 5th. Previously, these entities were operated as joint ventures between the two companies. Alongside these acquisitions, INEOS has also obtained several other infrastructure assets, including a portion of TotalEnergies' ethylene pipeline network in France.

INEOS is now geared towards seamlessly integrating the Naphtachimie, Gexaro, and Appryl petrochemical businesses, along with their associated assets and infrastructure, into INEOS Olefins & Polymers South at Lavera in Southern France. Notably, Gexaro, located on the Lavera refinery site, will continue to be operated by Petroineos.

Xavi Cros further elaborated, stating, "We are pleased to have finalized the acquisition of TotalEnergies' petrochemical assets at Lavera today. This marks a significant milestone for INEOS' operations in French and South European regions. Our immediate focus is on integrating these assets seamlessly to enhance our competitiveness in the market."

INEOS, a leading global petrochemicals manufacturer, boasts a presence across 29 countries with 194 operational sites. With an annual revenue of $65 billion and a workforce of over 26,000 employees, INEOS is renowned for its core business operations. Additionally, INEOS has expanded its footprint in recent years, venturing into diverse sectors including automotive with the launch of the Grenadier, a rugged 4x4 vehicle, and INEOS Hygienics. The INEOS Group encompasses a wide spectrum of operations, spanning petrochemicals, specialty chemicals, and oil products. Alongside its traditional ventures, INEOS has diversified its portfolio through strategic acquisitions such as the iconic British brand Belstaff and the establishment of INEOS Automotive and INEOS Hygienics. Comprising 36 distinct businesses, INEOS operates a global network of 194 facilities, driven by a blend of opportunism, commitment to core values, and a spirit of adventure.