INEOS is a global manufacturer of petrochemicals and polymers, specialty chemicals and oil products. It comprises 18 businesses with an annual turnover of around Euro18bn (2009). Its production network spans 71 manufacturing facilities in 17 countries throughout the world with a volume capacity of around 50m tonnes/year.
Download the The ICIS Top 100 Chemical Companies listing here
INEOS was formed by a management buy out of the former BP petrochemicals assets in Antwerp from Inspec in 1998 and has grown through a series of related acquisitions.
In August 2010, INEOS said it will sell its global films business to Bilcare. For more on this please see INEOS to sell its global films business to Bilcare for €100m on ICIS news.
Please see UK's INEOS confirms it will relocate HQ to Switzerland on ICIS news.
In March 2010, INEOS completed the sale of its fluorochemicals business to Mexichem Fluor. For more on this please see INEOS completes sale of fluorochemicals business to Mexichem on ICIS news.
In November 2008, INEOS said that it plans to combine the management of its European olefins and polyolefins businesses into a new combined entity called INEOS Olefins & Polymers Europe, effective 1 December 2008.
In March 2008, INEOS ChlorVinyls sold its packed chlorine business to BOC. The sale included the packed chlorine production facilities at its Runcorn site in northwest England and the associate commercial goodwill of the business.
Also in March 2008, INEOS Nitriles said it would buy BASF’s Seal Sands site at Teesside, UK. Excluded from the transaction, BASF will retain both the hexamethylene diamine (HMD) and adiponitrile (ADN) plants at the Teesside site. The acquisition is conditional on approval by the relevant competition authorities. No financial details have been disclosed.
INEOS Enterprises is to acquire the full shareholding of INEOS Asiatic Chemical Company Limited (IACC) in Bangpoo, Thailand. INEOS will acquire the 40% shareholding of the East Asiatic (Thailand) Public Company Limited (EACT). No financial details were disclosed.
In February 2008, the European Commission (EC) approved the takeover of BP’s acetate business by INEOS. The deal, announced on 11 January 2008, will see INEOS take control of BP’s vinyl acetate monomer (VAM) and ethyl acetate operations based in Hull, UK, as well as the Teesside-to-Saltend ethylene pipeline (TSEP).
The ethyl acetate business will be integrated into the INEOS Oxide division. The VAM unit will become part of INEOS Enterprises.
In January 2008, the European Commission cleared INEOS Capital’s Nkr 5.5bn (Euro673.2m /$910.6m) acquisition of Hydro Polymers’ business in Norway, Sweden and the UK from Norsk Hydro.
The acquisition of the Kerling polymers business was agreed in 2007 but was then investigated by the EC because of the alleged early implementation of the transaction, which has now been dismissed.
Part of the deal included the remaining 50% share in the Noretyl ethylene cracker in Rafnes, Norway. INEOS purchased the other 50% share from Borealis in August 2007 for Euro290m ($394m).
On 11 October 2007, INEOS combined its silicas division with PQ, a US specialty-chemical firm recently acquired by The Carlyle Group. INEOS will own about 40% of the combined business, and The Carlyle Group will own the rest.
On 2 October 2007, INEOS completed an agreement with Lanxess to acquire 51% of its acrylonitrile-butadiene-styrene (ABS) plastics business Lustran Polymers. Lustran Polymers, renamed INEOS ABS, would be operated as a joint venture until INEOS acquires the remaining 49% in September 2009.
INEOS ABS would be the world’s third largest and Europe’s leading supplier of ABS, generating Euro900m ($1.3bn) in sales, operating production facilities in Germany, Spain, Thailand, India and the US and employing 1,600 people.
In October 2007, INEOS NOVA’s joint venture was expanded to include NOVA’s STYRENIX unit and other styrenic polymer assets.
The expanded joint venture between INEOS and NOVA, which was announced in March 2007, was set to generate earnings from manufacturing sites in the US, Canada, France, Germany, the Netherlands and Sweden, said INEOS NOVA, which is headquartered in Illinois, US.
Additional company movements
In 2001 INEOS acquired:
Crosfield and formed INEOS Silicas;
ICI Chlor-Chemicals and formed INEOS Chlor;
ICI Klea and formed INEOS Fluor;
Dow Chemicals' global ethanolamine and USA/Canadian GAS/SPEC gas treating amines businesses;
A majority shareholding in EVC; and
Phenolchemie and formed INEOS Phenol.
In 2003 INEOS acquired:
Methanova and formed INEOS Paraform.
EVC Films is established as a separate business. Acquisition by EVC Films of former films plant in Delaware, US.
On 1 July 2005, EVC changed its name to INEOS Vinyls, INEOS Compounds and INEOS Films;
The EVC assets became fully owned by INEOS, leading to a reorganisation with INEOS Chlor to form two new divisions, INEOS ChlorVinyl's and INEOS Films and Compounds.
INEOS Films acquires Adriaplast and Caleppiovinil, Italy from Solvay.
INEOS acquired BASF's USA/Canadian polystyrene business and formed INEOS Styrenics; and
INEOS acquired UCB's amino resins and additives business from Cytec Industries and formed INEOS Melamines.
INEOS renamed Innovene and formed INEOS Nitriles, INEOS Olefins, INEOS Olefins & Polymers US, INEOS Oligomers, INEOS Polyolefins, INEOS Refining and INEOS Technologies; and
Created INEOS ChlorVinyls join management board.
On 16 December 2005, BP completed the sale of its Innovene petrochemicals business to INEOS. The sale included all Innovene's manufacturing sites, markets and technologies except its ethylene oxide assets in Germany.
On 1 September 2006, INEOS completed the acquisition of the remaining 460,000 tonnes/year ethylene oxide/ethylene glycol business in Dormagen, Germany.
The deal received permission from the European Commission on 11 August 2006, after it had previously been held back since March 2006, due to concerns about market concentration.
INEOS businesses include:
INEOS ChlorVinyls is one of the major chlor-alkali producers in Europe and a global leader in chlorine derivatives and Europe’s largest polyvinyl chloride (PVC) manufacturer. The company consists of INEOS Chlor and INEOS Vinyls. It has around 2,500 employees.
Its chlor-alkali cellroom is said to be the second largest single unit in Europe, whilst it claims to be the largest chlorinated paraffins producer in the world and operater of the world's largest trichloroethylene plant.
A European PVC manufacturer it has manufacturing and marketing activity is vertically integrated through most of the PVC chain and includes ethylene dichloride (EDC), vinyl chloride monomer (VCM), VCM catalysts and additives for PVC polymerisation, PVC resins and compounds.
Its key raw materials, ethylene and chlorine, are obtained externally through long-term supply agreements.
INEOS Enterprises consists of a group of eight businesses with a portfolio of manufacturing chemicals and electrochemical technology products in Northern Europe and southeast Asia. The company is focussed on developing the needs of its customers and rapid growth through investment in new products and manufacturing facilities or by acquisition. It has around 500 employees.
Its main products include: brine and water; plasticisers and lubricants; chlor-alkali; sulphur chemicals; electrochemical technology licensing; and fuel cells.
INEOS Films and Compounds
INEOS Films and Compounds were established as a separate business within INEOS. It is a European manufacturer of high quality rigid PVC films and is said to be among the major three producers in the world. The company plays a major role in the world of pharmaceutical blister packaging and plastic credit cards.
INEOS acquired the two foil businesses Adriaplast and Caleppiovinil, Italy from Solvay. Along with the EVC assets acquired by INEOS, the INEOS Compounds business was transferred to join INEOS Films in a single downstream INEOS division, newly named INEOS Films and Compounds.
The INEOS Films and Compounds group employs approximately 2,000 people with sites in Germany, Italy, Switzerland, UK, France, India and the US. Its production capacity is around 180,000 tonnes/year of PVC films, 8,000 tonnes/year of PET films, 225,000 tonnes/year PVC compounds.
INEOS Fluor is a specialties business built on innovation in fluorine chemistry. It focuses on the manufacture and supply of fluorine-based products, technologies and services across a number of major industries, from pharmaceuticals to refrigeration, automotive to fluoropolymers.
INEOS Fluor products are integral to many aspects of modern life such as refrigerants, medical propellants for asthma patients, anaesthetics and fluorinated intermediate chemicals used to make advanced coatings for cook wear through to use in aerospace.
With around 370 employees at three sites, its main products include: fluorocarbons and hydrogen fluoride, HFC 134a2, KLEA, and ZEPHEX .
INEOS Melamines are a manufacturer of melamine-formaldehyde-resins for a wide range of coatings market segments, including automotive, can & coil, general industrial, packaging, and wood finishes. Other diverse markets served include tyre manufacturing, textiles, laminating, and paper.
In June 2005, INEOS acquired but held separate the Cytec's Surface Specialties Amino Resins business. Following this, at a later stage INEOS Melamines was created. It has around 160 employees at three sites, including Germany, US, and Canada.
INEOS Nitriles is the world’s largest supplier of acrylonitrile and acetonitrile. It has 450 employees.
It was acquired from Innovene in 2005.
INEOS Olefins & Polymers Europe
A leading olefins and aromatics producers in Europe. Its manufacturing units produce key raw materials for other INEOS businesses and external customers. Combined with its US operations it is a major global olefins business.
A European polyolefin producer with manufacturing units in UK, Germany, France, Belgium and Italy. It has 2,600 employees and was acquired from Innovene in 2005.
INEOS Olefins & Polymers, US
All of Innovene's existing North American olefins, polyethylene and polypropylene business activities including pipeline and terminal operations and the Hobbs NGL Fractionator as well as Carson, Chocolate Bayou and Battleground manufacturing sites.
Leading producer of linear alpha olefins, poly alpha olefins, polybutene, diisobutylene, isoamylene, isododecane, isohexadecane; cyclopentane. It has 450 employees and was acquired from Innovene in 2005.
INEOS Oxide produces a range of specialty and intermediate chemicals derived from ethylene oxide. With around 721 employees at three sites in Europe and one site in the US, its main products include: ethylene oxide, ethylene glycol, EO derivatives, ethylidene norbornene, ethanolamines, GAS / SPEC, and amines.
INEOS Paraform is a European manufacturer of formaldehyde, paraformaldehyde, hexamethylene tetramine and alkali cyanates.
INEOS Paraform products are used in a wide variety of applications including resins for particle boards, decorative laminates, abrasive papers, brake linings, organic intermediates, pharmaceuticals, tyres, surface coatings, fuel tablets, agrochemicals and heat treatment products.
It has around 150 employees located in the Rhein-Main area at Mainz in Germany.
INEOS Phenol is stated as being the 'world's largest producer of phenol and acetone'. INEOS Phenol has production facilities both in Europe and America. The key applications for phenol and acetone are in the production of polycarbonate, plastics, phenolic resins, synthetic fibres (such as nylon) and solvents.
These products are used in a diverse range of end-markets, including the automotive, construction, electronics and fibre industries. It has around 600 employees based at Gladbeck, Germany; Antwerp, Belgium; Mobile, Alabama, US.
A European crude oil refiner with sites at Lavera, France and Grangemouth, Scotland both co-located with major petrochemical operations of the company. It has 1,000 employees and was acquired from Innovene in 2005.
INEOS Silicas is a manufacturer of structured fine particles derived from silica and alumina. Its main products include sodium silicate, silicas, zeolites and synthetic clays. The products are environmentally benign and find a use in a wide variety of markets including detergents, personal care, food and beverages, paints, plastics, paper and a number of industrial applications.
It has 870 employees at manufacturing facilities located at eight sites in locations such as the UK, US, The Netherlands, Brazil, South Africa and Indonesia.
INEOS Styrenics is a manufacturer of crystal and high impact polystyrene resins. It was acquired from BASF in 2005 and has around 340 personnel. It also includes the styrene operations acquired from BP.
INEOS is a manufacturer of crystal and high impact polystyrene resins.
Licenser of technologies and catalysts to the petrochemical industries.
Kerling (formally known as Hydro Polymers)
Kerling has production facilities in Scandinavia and the UK and is said to be a “major player” in the northern European market for PVC, the intermediary product, VCM and caustic soda used primarily in the Nordic pulp and paper industry.
Kerling also has interests in joint venture petrochemical operations in Norway, Qatar, China and Portugal.
Back to company overview page
The main objective for INEOS is to 'continue growing in profitability and cash flows' through leveraging its existing resources to expand sales, cost savings and an increase focus on high and stable margin speciality products. (Edited from: company website). ICIS also provides you with key financial data listed in table form.
More about Ineos Strategy & Financial Highlights
Get news on Ineos plus the latest chemical news, information, data, market movements and analysis
in one place with ICIS news
Find details on other chemical companies and suppliers with
ICIS offers a range of FREE e-newsletters to ensure that you don't miss out on the latest development and key market intelligence in your industry. If you want the latest news sent to your inbox, sign up for ICIS e-newsletters today.
Find out more about current and planned chemical plants and projects by subscribing to our comprehensive database
INSIGHT: Economy, politics, friendship and security blended in oil
"Iran believes it can raise oil production by 1m bbl/day in the short term, and increase production even further."
VIDEO: ICIS Special Report - US olefins and polymers