Ineos Has Completed The Acquisition Of Bp Petrochemical Business

Recently, Ineos announced that it has completed the acquisition of bp's global aromatics and acetyl business.

The acquisition includes 15 factories worldwide (including 5 in the Americas, 2 in Europe and 8 in Asia), of which 10 are leading joint ventures. Ineos has acquired a series of world-class assets and has experienced personnel and teams.

It is understood that Ineos is the world's leading chemical company, and it is also one of the world's largest manufacturing companies, with operations in 26 countries, with more than 180 factories and approximately 22,000 employees worldwide. In the past 20 years, Ineos has acquired many businesses from bp. The most notable is the acquisition of bp’s subsidiary Innovene in 2005 for US$9 billion. Innovene’s main business includes most of bp’s chemical plants and two refineries at that time. plant. At present, it has completed the acquisition of bp's global aromatics and acetyl business for US$5 billion, and has become one of the world's leading petrochemical companies. This acquisition has expanded Ineos' business scope and business location. These businesses will be called Ineos Acetyl and Ineos Aromatics.

Sir Jim Ratcliffe, Founder and Chairman of Ineos, said: "We are very pleased to be able to acquire these top businesses from bp, which will enhance our position in the global petrochemical field and provide a broad space for the expansion and integration of our existing businesses”