Ineos Acrylics Ltd., the world's largest producer of methacrylates, has changed its name to Lucite International Inc.
The Southampton company now plans a public stock offering in three to five years, said Scott Davidson, chairman and chief executive officer: ``It is vital to establish a strong, independent company brand as soon as possible.'' Davidson was CEO of ICI Acrylics of Everberg, Belgium.
Ineos Acrylics formed in 1999 when private equity firm Charterhouse Development Capital and chemical company Ineos Group bought Imperial Chemical Industries plc's global acrylics business. The business includes 16 production sites in nine countries and employs 2,000. It has annual sales of about $1 billion and produces more than 4.9 billion pounds of acrylic-related products.