Jobs safe by chemical site sale

Jobs safe by chemical site sale

Teesside is the base of a number of chemical firms

A large part of the Wilton chemicals site on Teesside has been sold in an £83m deal.

The current owners, Enron Teesside Operations Limited (Etol), have sold the site to a Singapore-based company.

News the 579 Etol employees will keep their jobs has been welcomed across Teesside.

They will now work for SembCorp Utilities, a property, engineering, logistics and chemicals group.

SembCorp said on Tuesday the Teesside site would provide key services to major international chemical companies in the UK.

The firm is well established in the Far East and its presence on Teesside will strengthen the international base of the Wilton site.

Corporation collapse

The Teesside base is already home to major chemical companies from Europe and the United States.

The deal ends a 16-month limbo following the collapse of the Enron Corporation.

SembCorp Utilities president and chief executive Tang Kin Fei said he expected the acquisition to enhance the company's earnings from the first year.

The former ICI Site was sold to Etol, an offshoot of the United States-based Enron Corporation.