Ineos, the British chemicals company, has announced it will establish a joint venture with Lanxess, a German chemical polymer group, by taking over the ABS business unit of Lanxess's company, Lustran Polymers. In the first phase, Ineos will pay Lanxess €35 million (approximately $47 million) to acquire a 51% stake. Addyston, USA, INEOS ABS (USA) Corporation.