2 April 2008
INEOS COMPLETES ACQUISITION OF VINYL ACETATE
MONOMER AND ETHYL ACETATE BUSINESSES FROM BP
INEOS Group has now completed its acquisition
of the vinyl acetate monomer (VAM) and ethyl acetate (EtAc)
businesses from BP.
The deal, first announced in January 2008, brings to INEOS 500ktpa
of production capacity at the Saltend manufacturing site near
Hull (UK), along with the 151-kilometre Teesside to Saltend
Ethylene Pipeline that supplies ethylene feedstock to the VAM
and EtAc plants.
The acquisition is a further demonstration of INEOS' continuing
growth across Europe and secures a successful business that
is highly complementary with the existing portfolio, technologies
and expertise of INEOS.
"We are pleased to have completed this latest acquisition,
which not only broadens our already extensive portfolio of petrochemicals,
specialty chemicals and oil products, but also enhances the
existing links between the Saltend and Grangemouth manufacturing
sites and helps us to meet the growing demand for these acetate
products," commented INEOS Chairman Jim Ratcliffe
The new acetate businesses will now be integrated into the portfolios
of INEOS Enterprises and INEOS Oxide.
ENDS
Notes to Editors
1. INEOS (www.ineos.com) is the world's third
largest chemicals company; a leading manufacturer of petrochemicals,
specialty chemicals and oil products. Comprising 19 businesses,
with a production network spanning 76 manufacturing facilities
in 20 countries, the Company produces more than 32 million tonnes
of petrochemicals and 20 million tonnes per annum of crude oil
refined products (fuels). INEOS employs 16,600 people and has
sales approaching $45 billion.
2. INEOS Enterprises is a portfolio of eight leading businesses
manufacturing chemical products in Northern Europe and Southeast
Asia, with sales of these products to customers around the world.
The Company is focused on the developing needs of customers
and rapid growth through investment in new products and manufacturing
facilities or by acquisition. With this latest acquisition INEOS
Enterprises now employs some 530 people across sites in the
UK, France, Germany and Thailand and has an annual turnover
in excess of €900 million.
3. INEOS Oxide produces a comprehensive range of specialty and
intermediate chemicals derived from ethylene and propylene oxide.
It is a proven leader with a strong track record of product
quality, engineering excellence and innovation. INEOS Oxide
has an annual turnover of €1.6 billion, and employs some
780 people across manufacturing sites in Belgium, Germany, France
and USA. In Europe that Company has an output of 2.4 million
tpa, whilst in the USA annual output stands at 160ktpa.
For further information please contact:
Richard Longden, INEOS Press Office
Telephone: 07710 371 998
Email: richard.longden@ineoscapital.com
Craig Welsh, INEOS Enterprises Press
Office
Telephone: 01928 511528
Fax: 01928 569459
Email: craig.welsh@ineoschlor.com
