INEOS and MSM Poly Sign MOU to Support Resin Production
United
States: INEOS
Barex AG, a Switzerland based wholly owned subsidiary of INEOS and is also
parent company of INEOS Barex LLC USA, which is involved in Barex® resin
production. INEOS Barex AG, INEOS Barex USA LLC and MSM Poly LLC, a US based
manufacturer of Acrylonitrile methyl acrylate copolymer (AMAC) latex, entered
into a non-binding agreement on 19th July, 2016 for sale of intellectual property and production support related to Barex®
product line to MSM Poly LLC. As per the Memorandum of Understanding (MOU)
signed between these companies, MSM will purchase all existing IP from INEOS along
with specific physical assets, commercial/operational support and supply of
Barex® resin. INEOS Barex AG had announced discontinuation of its AMAC
production business marketed under trade name of Barex® on 28th
October, 2014, following which MSM was formed to meet the demand of contracted Barex®
customers and make it available in the market post complete exit of INEOS.
TechSci Research depicts that
this agreement will cater to the existing Barex® resin users and would also help sustain the brand name across the country, thereby
contributing to the demand for AMAC resins in the global masterbatch market.
According to the recent report
published by TechSci Research, “Global Masterbatch Market By Type, By End User, By Region, Competition
Forecast and Opportunities, 2011 – 2021”, global
masterbatch market size is estimated to cross $ 16 billion in 2016. Growth in
the market is anticipated on account of continuously increasing demand from major
end use industries, such as packaging, food processing, building &
construction, and automotive industries. Moreover, masterbatch consumption in
packaging has increased significantly across the globe over the last five years
due to rising popularity of small pack sizes, expanding sales and distribution
network of plastic processors and plastic products, as well as growing use of
flexible packaging market.