Swiss conglomerate acquires Calabrian Holdings’ new Timmins plant
Swiss company INEOS has purchased Calabrian Holdings Corp., which is building a liquid sulphur dioxide manufacturing plant in Timmins.
INEOS announced on Aug. 2 it had acquired 100 per cent of the shares of Calabrian, which is headquartered in Texas.
The Timmins plant will create 20 permanent jobs once the facility is complete by year-end.
Liquid sulphur dioxide eliminates cyanide used in gold production.
“We are very pleased to have acquired this modern production facility in Texas and look forward to the completion of the Canadian facility late this year,” said INEOS CEO Ashley Reed.
“The assets are ideally positioned to serve the North American market with excellent cost position and logistical infrastructure. Additional synergies will be explored with our existing business in Europe.”
Headquartered in Rolle, Switzerland, INEOS manufactures petrochemicals, specialty chemicals and oil products. It comprises 18 businesses with a production network that spans 65 sites in 16 countries around the world.