The INEOS board visited China in mid May to consider manufacturing options in the world’s largest growth market. The company, which has extensive manufacturing facilities in Europe and the North America has a relatively undeveloped base in Asia.
INEOS was pleased to be received by the Vice Premier Zeng Peiyan and his senior colleagues where the company was encouraged to consider the further investment in China in addition to considering a world scale Phenol plant in Zhangjiagang, Jiangsu Province near Shanghai.
The level of infrastructure in the country, the professionalism and drive of the people impressed INEOS and it has committed to the Chinese Government, to carry out a review of possibilities for development in China, to expand its manufacturing base into upstream refining and petrochemical activities.
For further information contact:
Richard Longden – INEOS - Tel: +44 1928 513064
www.ineos.com
Note to editors:
INEOS is a rapidly growing manufacturer of petrochemicals, speciality and intermediate chemicals and polymers. The company was formed by a management buy out of the former BP petrochemicals asset in Antwerp, which was led by Jim Ratcliffe, who is now its Chairman. The company has subsequently grown through a series of successful acquisitions and continues to build on businesses that have good people and assets, supported by strong market positions and a potential for further growth.
INEOS has 68 manufacturing facilities across 14 countries throughout the world. It will have approximately 15,600 employees, generating more than 30 million tonnes of petrochemicals, 20 million tons per annum of crude oil refined products (fuels) and sales of around $33 bn.