CHEMICAL giant ICI today struck a £505million deal to sell off its Darwen bases.

The town's sites, which employ around 300 people and are part of the firm's acrylics division, have been up for sale since April.

They have been sold to Ineos Acrylics, a firm set up by British entrepreneur Jim Ratcliffe, backed by a firm of venture capitalists.

Union official John Phillips, who represents GMB union members at the Darwen sites, said he would be seeking a meeting with the new owners as soon as possible.

"The news has not really come as a surprise because we have known ICI were looking to sell it for several months.

"Obviously now we will want to know what the new owners' future plans for the business are."

The acrylics business employs 2,000 people worldwide including those at Orchard Mill and Chapels Park. It makes products used in areas such as baths and sinks under names including Perspex and Lucite.

Around 40 people are also employed by Bibby Distribution on the Walker Park estate in Blackburn where material manufactured in Darwen is processed and delivered to customers around the world.

Recent forecasts had predicted the business may sell for as much as £530million, but analysts had originally only expected the business to fetch up to £450million.

ICI said it was selling the acrylics arm as part of its plan to concentrate on paints and speciality chemicals.

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