ICI is selling selected petrochemicals businesses comprising its aromatics, hydrogen and North Tees logistics businesses, together with ICI's olefines
supply business, but excluding ICI's 80 per cent share of the jointly owned olefines
manufacturing assets, which ICI will retain and operate.
Lower prices have adversely affected income in Olefines
, Aromatics and Methanol, though the Fertilizer business has seen improved profitability from record sales and production.
The business won a number of industry awards and became so busy that Alan had to take redundancy from his job as a welder with Olefines
VI, the part of ICI which was eventually sold to Huntsman.
In the third quarter of 1994, the Company's production plants operated at full capacity, after the completion of maintenance and development works performed in the production plants in the second quarter of 1994, with the exception of disturbances due to ethylene quality problems, a raw material supplied by the ethylene plant at Carmel Olefines
However this improvement is not fully expressed in the results due to loss of profits in the course of the second quarter as a result of the shutdown of the ethylene plant at Carmel Olefines
It would also have good regional market positions in olefines
and derivatives, aromatics, chlor-alkali products and derivatives.