INGENIA / IKA
Companies to form US joint venture for PVC additives / Houston-based firm targets North America
 Tony Butt (c.) is to helm the venture (Photo: IKA Group) |
Compounder and additive supplier Ingenia Polymers (Houston, Texas, USA; www.ingeniapolymers.com) and German additive maker IKA Group (Bitterfeld-Wolfen; www.ika-wolfen.de) have announced plans to create a US-based company to produce PVC additives and stabilisers for the North American market.
The companies said the deal is expected to close before the end of the year, with operations scheduled to begin in Q1 2023. No details on production volumes were disclosed.
While no specifics on the venture’s location were provided, the companies said it would be in the Great Houston region of Texas. In 2020, Ingenia acquired the so-called Bayshore Industrial site in the city of La Porte, part of the Houston metro area, from LyondellBasell (LYB, Houston; www.lyondellbasell.com – see Plasteurope.com of 16.03.2020).
Beyond the 50/50 joint venture, Ingenia and IKA said they also agreed in principle to help advance the company, especially in the early years, with Ingenia to facilitate operations and development of the corporation, and IKA to take the lead on technical service, marketing, production, and formulation technology.
Tony Butt, currently the senior vice-president of IKA Group, is to serve as president and chief executive of the venture. Butt is said to have over 30 years’ experience in PVC stabilisers and additives. “The teaming up of Ingenia and IKA is a perfect combination as both groups enrich each other and will allow broad synergies,” Butt noted. “IKA has new product ranges ready for the demanding North American Market including solutions for tin replacement.”
IKA was founded in 1994, and the IKA Group was created in 2020 following a management buy-in led by Alexander Hofer, a former manager at Chemson Polymer-Additive (Arnoldstein, Austria; www.chemson.com – see Plasteurope.com of 16.10.2020). IKA’s main production unit, based at the site of the headquarters, is IKA Innovative Kunststoffaufbereitung, which manufactures PVC additives and stabilisers.
The companies said the deal is expected to close before the end of the year, with operations scheduled to begin in Q1 2023. No details on production volumes were disclosed.
While no specifics on the venture’s location were provided, the companies said it would be in the Great Houston region of Texas. In 2020, Ingenia acquired the so-called Bayshore Industrial site in the city of La Porte, part of the Houston metro area, from LyondellBasell (LYB, Houston; www.lyondellbasell.com – see Plasteurope.com of 16.03.2020).
Beyond the 50/50 joint venture, Ingenia and IKA said they also agreed in principle to help advance the company, especially in the early years, with Ingenia to facilitate operations and development of the corporation, and IKA to take the lead on technical service, marketing, production, and formulation technology.
Tony Butt, currently the senior vice-president of IKA Group, is to serve as president and chief executive of the venture. Butt is said to have over 30 years’ experience in PVC stabilisers and additives. “The teaming up of Ingenia and IKA is a perfect combination as both groups enrich each other and will allow broad synergies,” Butt noted. “IKA has new product ranges ready for the demanding North American Market including solutions for tin replacement.”
IKA was founded in 1994, and the IKA Group was created in 2020 following a management buy-in led by Alexander Hofer, a former manager at Chemson Polymer-Additive (Arnoldstein, Austria; www.chemson.com – see Plasteurope.com of 16.10.2020). IKA’s main production unit, based at the site of the headquarters, is IKA Innovative Kunststoffaufbereitung, which manufactures PVC additives and stabilisers.
14.11.2022 Plasteurope.com [251548-0]
Published on 14.11.2022
German version of this article...