INEOS Olefins & Polymers USA announce restructuring of US assets
INEOS Olefins & Polymers USA today announced its intention to strengthen its competitiveness in its US polymer assets over the next few years, with a focus on upgrading its polypropylene capabilities. “Our aim is to greatly strengthen our portfolio of products where we have a competitive advantage and exit disadvantaged markets. The changes we are making will deliver a robust polypropylene business that continues meet the ongoing needs of our customers ”, said Dennis Seith, CEO of the INEOS Olefins & Polymers USA business.
Over the coming weeks INEOS will begin a number of studies to assess the expansion of the two newest Innovene™ polypropylene gas phase units at its Chocolate Bayou site by a further 200 M lbs/yr of capacity with homo and co – polymer Polypropylene capacity. As part of this restructure, it is planned that the oldest polypropylene unit will be shut down. This is likely to happen at the end of 2007 or early 2008 and represents approximately 450 M lbs/yr of homopolymer capacity.
“These changes, coupled with new product development for our existing assets allows us to continue our long term commitment to serving the polypropylene market with high quality, competitive and innovative products,” concludes Dennis Seith.
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Note to editors:
INEOS Olefins & Polymers USA, a key strategic business for the INEOS Group, was acquired in December 2005. The business is a eading producer of high quality olefin and high density polyethylene and polypropylene at its plants in Alvin and La Porte TX and Carson CA.
Innovene is a Trademark of INEOS Technologies The INEOS Innovene™ polypropylene process, is provided by INEOS Technologies.
INEOS is the world’s third largest chemicals company and a leading manufacturer of petrochemicals, specialty chemicals and oil products. INEOS is comprised of 18 businesses with 68 manufacturing facilities spanning 17 countries. With 15,600 employees, INEOS annually produces more than 30 million tonnes of petrochemicals and 20 million tons of crude oil refined products (fuels) with sales of around $33bn.