Ineos (Lyndhurst / UK; www.ineos.com) has completed its planned takeover of a 51% stake in the Lustran Polymers ABS business of Lanxess (Leverkusen / Germany; www.lanxess.com) – see Plasteurope.com of 02.07.2007. From Q4 2007 forward, the joint venture will trade as Ineos ABS and the German company’s participation will be purely financial. The deal was cleared by the European Commission in August. Ineos has agreed to acquire the remaining 49% stake at the end of September 2009.

Ineos ABS is now the world’s third largest and Europe’s leading supplier of the engineering polymer, employing some 1,600 people and generating annual sales of nearly EUR 900m from production facilities in Germany, Spain, Thailand, India and the US. Ineos’ takeover of Lanxess’ Indian facility is still subject to local regulatory approval.