{"id":80313,"date":"2020-07-20T07:22:16","date_gmt":"2020-07-20T05:22:16","guid":{"rendered":"https:\/\/renewable-carbon.eu\/news\/?p=80313"},"modified":"2021-09-09T19:21:56","modified_gmt":"2021-09-09T17:21:56","slug":"ineos-to-acquire-bps-global-aromatics-acetyls-business","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/ineos-to-acquire-bps-global-aromatics-acetyls-business\/","title":{"rendered":"INEOS to acquire BP&#8217;s global aromatics &amp; acetyls business"},"content":{"rendered":"<ul>\n<li><strong>INEOS has announced its intention to acquire BP\u2019s global Aromatics and Acetyls business for a consideration of $5 billion.<\/strong><\/li>\n<li><strong>The business 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<\/strong><\/li>\n<li><strong>INEOS will acquire a range of world class assets and an experienced team of people.<\/strong><\/li>\n<li><strong>The deal is a good fit with INEOS existing asset base, reintegrating the Hull site and expanding the existing INEOS footprint at Geel, Belgium.<\/strong><\/li>\n<\/ul>\n<p><strong>Sir Jim Ratcliffe, founder and chairman of INEOS says, \u201cWe are delighted to acquire these top-class businesses from BP, extending the INEOS position in global petrochemicals and providing great scope for expansion and integration with our existing business.\u201d<\/strong><\/p>\n<p>INEOS, one of the world\u2019s largest manufacturing companies, has today announced its intention to purchase the global Aromatics and Acetyls businesses of BP for a consideration of $5 billion. $4 billion will be payable upon completion with the remaining $1 billion deferred until, at the latest, June 2021.<\/p>\n<p>INEOS is already one of the world\u2019s leading petrochemical companies and this acquisition will extend both the portfolio and the geographic reach of the business.<\/p>\n<p>The Aromatics business 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.<\/p>\n<p>The Acetyls business with 9 sites produces acetic acid and a range of derivatives supplying a wide range of downstream industries such as food, pharmaceuticals, paints, adhesives and packaging.<\/p>\n<p>Sir Jim Ratcliffe, founder and chairman of INEOS adds, \u201cThis acquisition 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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>INEOS has announced its intention to acquire BP\u2019s global Aromatics and Acetyls business for a consideration of $5 billion. The business 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 will acquire a range of world class assets [&#8230;]<\/p>\n","protected":false},"author":59,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","nova_meta_subtitle":"","footnotes":""},"categories":[5572,17143],"tags":[12406,10416],"supplier":[570,308],"class_list":["post-80313","post","type-post","status-publish","format-standard","hentry","category-bio-based","category-recycling","tag-aromatics","tag-circulareconomy","supplier-bp","supplier-ineos-group-limited"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/80313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=80313"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/80313\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=80313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=80313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=80313"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=80313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}