The deal also covers a long-term ilmenite supply contract. Credit: Juan Enrique del Barrio/shutterstock.com.

Ineos Enterprises has acquired a 100% stake in Eramet Titanium & Iron (ETI), a Norwegian subsidiary of French mining and metallurgy company Eramet, in a deal worth $245m (€229.98m).

The deal, which was announced earlier this year, will take immediate effect and ETI will now be known as INEOS Tyssedal.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

In a press statement, Eramet said: “The transaction is final and subject to no condition, regulatory approvals having been obtained by INEOS Enterprises prior to the acceptance of its offer by Eramet.”

The deal also covers a long-term supply contract for ilmenite produced by Grande Côte Opérations (GCO).

ETI is an ilmenite transformation plant located in Tyssedal, south-western Norway.

See Also:

This facility is equipped to produce titanium dioxide slag, which is used in the pigments industry. It also produces high-purity pig iron from ilmenite supplied by GCO in Senegal for sale to foundries in Europe.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Ineos Enterprises CEO Ashley Reed said: “This is a good quality asset, complemented by an experienced operations team. We believe the next phase of ETI’s development can be well progressed under Ineos ownership and further improve the long-term sustainability of the company.”

Eramet said the sale strengthens its balance sheet while contributing to the financing of its metals projects needed for the energy transition.

Earlier this year, Bloomberg News reported that commodities giant Glencore was in advanced talks to fund the development of Eramet’s lithium processing plant in Centenario-Ratones, Argentina, in exchange for lithium supplies.

Eramet partnered with China’s Tsingshan Holding Group to develop the plant to help meet surging demand for key battery ingredients.

The proposed plant will have a 24,000-tonnes-per-annum production capacity of lithium carbonate equivalent.