INEOS Olefins and Polymers Europe has today revised its pricing policy for July, limiting any further polymer price decrease to no more than 70€/t against the C2, C3 monomer decreases of 170€/t.
This has been done in light of what Ineos considers to be an overcorrection in polymer pricing through May/June and the rapid escalation in oil/naphtha pricing currently underway.
INEOS will undertake this policy with immediate effect.
Press contacts:
Anne-Gret Iturriaga Abarzua
Phone: +49 221 3555 1096
Email: anne-gret.iturriaga.abarzua@ineos.com
Richard Longden
Phone: +41 21 627 7063
Email: richard.longden@ineos.com
Note to editors
INEOS Olefins & Polymers Europe is the number one producer of olefin and the number three producer of polyolefins in Europe. In 2011 the company had a turnover of € 5.5 billion and employed around 3,700 people. The heritage of its manufacturing facilities includes BP, Solvay, Amoco, and Borealis. It has capacity to produce around 5.5 million tonnes per annum of olefins and aromatics; 1.1 million tonnes per annum High Density Polyethylene (HDPE); 1.0 million tonnes per annum Low Density/Linear Low Density Polyethylene (LD/LLDPE) and around 0.9 million tonnes per annum PP.