INEOS acquires BP’s Ethylene Oxide business
INEOS has today completed the acquisition of BP's Ethylene Oxide/Ethylene Glycol business in Dormagen, Germany.
The purchase, which obtained approval from the European Commission on the 11th August, brings with it around 460,000 Tonnes per annum of capacity, raising INEOS Oxide's overall production capacity to around 2.4m Tonnes.
"We are very pleased with this acquisition, which allows us to continue to serve the growing needs of our customers," said Hans Casier CEO INEOS Oxide. "Our focus now is on a seamless transition of this business into the INEOS Group of companies."
The European Commission cleared the way for INEOS to acquire BP's Ethylene Oxide/Ethylene Glycol business in Dormagen, Germany, following an in-depth investigation. It concluded that the combined business would have a high market share in the merchant market for ethylene oxide but the acquisition would not significantly impede competition.
ENDS
For further information contact:
Hans Casier, CEO - INEOS Oxide - Phone:+32.3.250.93.36
Richard Longden - INEOS - Phone: +44.1928.513064
Note to editors:
The BP Dormagen Business consists of a plant located in Köln/Dormagen (Germany) manufacturing ethylene oxide and ethylene glycols and is currently controlled by BP.
Ethylene oxide is a colourless gas, produced by the partial oxidation of ethylene and is hazardous, highly inflammable, explosive, toxic and carcinogenic. Ethylene oxide is used for the production of glycols, mainly used in the textile industry, and as an intermediate for the production of other derivatives, such as detergents, refrigerants or personal care among.
INEOS has 68 manufacturing facilities across 14 countries throughout the world. With 15,600 employees, the Company produces more than 30 million tonnes of petrochemicals, 20 million tons per annum of crude oil refined products (fuels) and sales of around $33bn.