The Ineos Group has decided to sell its UK-based silicas, silicates, zeolites and synthetic clay producer, Ineos Silicas Ltd. The investment bank Morgan Stanley has been appointed to oversee divestment options for Ineos, which is expected to take around four months. In a recent statement from the company, Director Andy Currie of Ineos Capital said: "Ineos acquired the business from ICI in 2001 and it has seen continued growth and investment under Ineos ownership. It was never our intention to sell. However, Silicas is the only speciality inorganic chemical portfolio and does not have any significant overlap with the rest of the group. We believe that the business would be better positioned under new ownership, where it can harness synergies and achieve greater critical mass".
