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Ineos Olefins and Polymers USA has agreed to buy Sasol's 50% stake in the Gemini joint venture for $404 million, taking full ownership. The deal is expected to close by year end. Gemini is a toll manufacturer of bimodal HDPE in Bayport, Texas.
INEOS Olefins & Polymers USA and Sasol signed a Memorandum of Understanding to form a joint venture to manufacture high-density polyethylene (HDPE) in southwest Louisiana. The facility would produce 470 kilotons per annum of bimodal HDPE.