OREANDA-NEWS. INEOS Enterprises today announced its intention to acquire 100% of the shares of Befesa Valorizaci?n de Azufre, S.L.U (BVA).

BVA is a regional market leader for sulphuric acid and oleum located in Bilbao, Spain.

The plant was commissioned in October 2011 and is one of the most modern in Europe with the capacity to produce 340,000mt per year of sulphuric acid and related products.

The acquisition will complement INEOS existing Sulphur Chemicals Business in the UK, effectively doubling the production capacity and adding a Continental European dimension to the asset base.

Ashley Reed CEO INEOS Enterprises said, “We are very pleased to have acquired this modern production facility, in Bilbao. The asset is ideally situated to competitively source raw materials and to serve the domestic market, with excellent access to export markets. It will also complement our existing Sulphur Chemicals business in the UK.”

Completion of the transaction is expected to take place at the end of December.

The purchase price was not disclosed as part of this announcement.