ICI has completed the sale of its Chlor-Chemicals, Klea and Crosfield businesses to Ineos, a major global producer of Acrylics, Ethylene Oxide and derivatives.

The transaction, which was first announced on December 5, 2000,and completed on January 10, 2001,fundamentally severs the link with ICI's industrial chemicals manufacture in the UK as the company focuses on its future in specialty products and paints.

The businesses sold are:

• Chlor-Chemicals, which produces chlorine and its co-product caustic soda and chlorinated derivatives. Manufacturing takes place at three sites in the UK and at sites in Germany, France and Thailand (the last through a partly-owned subsidiary, with East Asiatic Company owning 40 per cent);
  
  
• Klea, with facilities in the UK, USA and Japan (the latter through a joint venture with Teijin), produces a range of non-flammable, energy-efficient refrigerants to replace CFCs which are sold worldwide under the 'Klea' tradename;
  
  
• This leaves ICI with essentially only its Regional Businesses left in the old Industrial Chemicals business category. The remaining part of its Petrochemicals operation, the UK-based methanol business, was sold to Methanex of Vancouver at the beginning of 2001.