Canadian Plastics

Ineos to acquire Sasol’s ownership of Texas HDPE joint venture

South Africa-based Sasol is selling its 50 per cent stake in the Gemini joint venture to Ineos for $404 million.

November 25, 2020   Canadian Plastics

Gemini is operated by Ineos and located within the Ineos Battleground Manufacturing Complex in La Porte, Tex. Photo Credit: Ineos

South Africa-based integrated chemicals company Sasol Ltd. is selling its 50 per cent stake in the Gemini high-density polyethylene (HDPE) joint venture to partner Ineos Olefins & Polymers USA for US$404 million.

Started in 2017 and operated by Ineos, the unit – which operated as Gemini HDPE LLC in La Porte, Tex. – is a toll-manufacturer of bimodal HDPE, with annual production capacity of just over 1 billion pounds of bimodal HDPE sold primarily to serve pipe and film markets.

The facility is located within Ineos’ Battleground Manufacturing Complex in La Porte.

“This world-class asset is positioned to serve the growing global bimodal markets and would allow our business to meet increased demand from our customers,” Ineos CEO Michael Nagle said in a Nov. 24 statement.

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Ineos is headquartered in Houston.

The proposed acquisition is contingent on financing, and is targeted to close by year-end.


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