Tricoya project changes1 Apr 2015 14:00
From an RNS today AXS are changing their joint venture partner INEOS to "a large international chemical group" to "optimise our participation in the building and operation of the world's first Tricola chip acetylation plant" "including allowing Accsys to derive revenue from both licensing and manufacturing" . " Full agreements are expected to follow
later in 2015 ". "Accsys has also agreed to acquire the 50% share in TTL currently owned by Ineos .....until a new ownership structure is established ". "TTL is also in discussion with other parties which are expected to lead to the creation of a new consortium,including the Chemical Group, to fund,build and then operate the New Plant"
It looks an interesting development hopefully good to all. Understand at the mo it may be inappropriate to name the "large international chemical group ". However INEOS is far from a minnow chemical group who incidentally are taking an active interest in shale gas development in the region of their huge Grangemouth unit. Why the switch ? JJT