INEOS completes the acquisition of BP’s global Aromatics & Acetyls business
- The acquisition consists of 15 sites across the world (5 in the Americas, 2 in Europe and 8 in Asia) as well as 10 leading joint ventures
- INEOS has acquired a range of world class assets and an experienced team of people.
- Sir Jim Ratcliffe, founder and chairman of INEOS says, “We are delighted to have been able to acquire these top-class businesses from BP, extending our position in global petrochemicals and providing good scope for expansion and integration with our existing business.”
INEOS, one of the world’s largest manufacturing companies, has today completed the purchase of the global Aromatics and Acetyls businesses from BP for a consideration of $5 billion.
INEOS is already one of the world’s leading petrochemical companies and this acquisition will extend both the portfolio and the geographic reach of the business. The businesses will be known as INEOS Acetyls and INEOS Aromatics.
INEOS Aromatics is a global leader in PTA (Purified Terephthalic Acid) and PX (Paraxylene) technology with 6 sites and supplies the global polyester business which includes polyester fibre, film and PET packaging.
INEOS Acetyls produces acetic acid and a range of derivatives from its 9 sites, supplying a wide range of downstream industries such as food, pharmaceuticals, paints, adhesives and packaging.
Sir Jim Ratcliffe, founder and chairman of INEOS adds, “I am very pleased that we have been able to complete the acquisition, which is a logical development of our existing petrochemicals business extending our interest in acetyls and adding a world leading aromatics business supporting the global polyester industry.
ENDS
NOTES:
INEOS Styrolution will be the acquirer of the BP businesses
Media Contacts
Richard Longden (INEOS) 0041 21 627 7063 or 0041 7996 26123
Mark Killick (Media Zoo) 020 7052 4838 or 07836 634449
Andrew McLachlan (Media Zoo) 020 7384 6980 or 07931 377162