Ineos EVC 100%取得 INEOS Vinyls
Businesses 工場 The man who made £3.3bn
http://www.ineos.com/aboutus/aboutusframe.htm
INEOS is a young
company. It has grown through a series of related
acquisitions to become a medium sized international company with
sales of about Euro 5 billion.
Most of our employees have spent all their working lives in the chemical industry. They arrived at INEOS from ICI, Du Pont, Dow, Degussa, BP, Enichem and Unilever. We have, and unashamedly still continue to extract best practices from this very impressive group of people in all spheres of activity.
| A quiet, family
man based in Southampton, Jim Ratcliffe
is now 53, The secret of Ratcliffe’s success is that he is at home in both the chemical industry and the world of private equity. A chemical engineer by training, his career began at Esso before he left to join Courtaulds. But the transforming move came when he joined venture capital firm Advent in 1989. Three years later, he teamed up with chemist-turned-entrepreneur John Hollowood to lead a buyout of Inspec Group from BP for £40m. Within 18 months, the group floated and by 1998 ? when the bulk of its operations were sold to Laporte - its value had grown 15-fold. That year the two co-founders parted, says Corporate Money. Ratcliffe - backed by private-equity firm Aberdeen Murray Johnstone - led a management buyout of part of Inspec’s chemicals divisions to create Ineos Group and embarked on an “acquisition binge”. Its astonishing rise surprised even its management. “To be truthful, I’m surprised how quickly it has all happened,” said Ratcliffe, in a rare 2001 interview. Ratcliffe has grown Ineos rapidly by making ever-bigger acquisitions funded mostly with debt, says Breakingviews.com. “How come, one might ask? Surely even in today’s markets where liquidity is sloshing around, one needs to fund at least 20% of a deal with equity?” Ratcliffe gets round that requirement by using Ineos as the equity - focusing single-mindedly on growing cash flow to increase the company’s debt capacity. “That way, Ineos is ready to be used as collateral for the next deal”, ensuring that “every few years, he can triple or quadruple in size”. Ineos’s policy of buying businesses regardless of whether they have synergies with existing operations resembles that of a private-equity capital firm, says Chemical Week. But the majority of its board members have at least ten years of experience in the chemical industry. This hybrid positioning works in its favour: Ineos has purchased most of its assets in auctions, frequently competing against private-equity capital companies. “Chemical companies are more comfortable dealing with us than with accountants from the private-equity capital sector,” says Ratcliffe. Nonetheless, “Ineos has some of the philosophies and healthy disciplines of private-equity capital”. The company has developed strict criteria for acquisition targets. Ultimately, it all comes down to a target’s ability to enhance the group’s value, measured by earnings before interest, taxes, depreciation and amortisation (EBITDA). Ineos’s entire modus operandi assumes that it can double the average EBITDA of a cyclical business over a five-year period. Money Week2006/6 http://www.moneyweek.com/file/6986/profile-jim-ratcliffe-britains-most-private-billionaire.html |
2006/1 New INEOS business names confirmed (Innovene 統合による）
| 1998 | INEOS formed それまでの歴史 INEOS acquires the Antwerp ethylene derivatives business from Inspec. |
| 1999 | Charterhouse Development Capital (majority shareholder 78%) and INEOS Capital (minority shareholder 22%) acquire ICI Acrylics and form INEOS Acrylics. |
| 2000 | INEOS
Acrylics acquires Acrylic Products, South Africa, and
Bonar Polymers, UK. Start up of Mobile phenol/acetone plant in Alabama, USA. |
| 2001 | INEOS
acquires Crosfield (from ICI) and forms INEOS Silicas. INEOS acquires ICI Chlor-Chemicals and forms INEOS Chlor. INEOS acquires ICI Klea and forms INEOS Fluor. INEOS acquires Dow Chemicals' global ethanolamine and USA/Canadian GAS/SPEC gas treating amines businesses. INEOS acquires a majority shareholding in EVC. INEOS acquires PHENOLCHEMIE and forms INEOS Phenol. INEOS Oxide Acquires BP Chemicals' European Acetate Business ENBも |
| 2002 | INEOS Acrylics becomes Lucite International. |
| 2003 | Ineos buys Degussa's German
Methanova unit INEOS acquires Methanova and forms INEOS Paraform. |
| 2004 | EVC Films established as a separate
business. Acquisition by EVC Films of former films plant in Delaware, USA. |
| 2005 | Formation of INEOS Enterprises Ltd. EVC assets become fully owned by INEOS, leading to reorganization with INEOS Chlor to form two new divisions, INEOS ChlorVynils and INEOS Films and Compounds. INEOS Films acquires Adriaplast and Caleppiovinil, Italy. INEOS acquires BASF’s USA/Canadian polystyrene business and forms INEOS Styrenics. INEOS acquires UCB’s worldwide amino resins and additives business from Cytec Industries Inc. and forms INEOS Melamines. BP Agrees Sale of Petrochemicals Business to INEOS for $9 Billion |
Ineos Secures Funding for U.K. Chlor-Alkali Upgrade
EVC asset sale to INEOS Vinyls ー completion of transaction
BASF to sell U.S., Canadian polystyrene business to INEOS Americas, LLC
BP Agrees Sale of Petrochemicals Business to INEOS for $9 Billion
European Commission clears proposed acquisition by INEOS of BP's EO/EG business in Dormagen
Ineos integrates Chlor and Vinyls management
Chevron Phillips sells Port Arthur Cumene unit to INEOS Americas
INEOS announces plans for a major expansion of its Ethylene Cracker plant at Koln Site
INEOS Enterprises Announces Plans for Major Investment in New Biodiesel Facility at Port of Antwerp
INEOS Polyolefins announce Euro150 million investment in European assets
INEOS Nitriles announces
acrylonitrile capacity expansion
INEOS Oxide: EO and EOA expansion
at Lavera
Ineos gets go-aheads withanhydrous HF acid and phenol/acetone in China
INEOS Phenol to invest in 400,000 tonne phenol acetone plant in China
NOVA Chemicals、北米のSM、PS事業をINEOSとのJVに移管
INEOS Capital to buy Hydro's polymers business
EU extends inquiry deadline for Ineos buy of Kerling to Jan 11
European Commission Gives Clearance for INEOS acquisition of Hydro Polymers
Ineos Chlorvinyls Announces Sale of its E-PVC Business to Vinnolit
Borealis sells its petrochemical business in Norway to Ineos
INEOS agrees joint venture with LANXESS to operate the ABS plastics business.
INEOS Polyolefins announce PP restructuring at Sarralbe
INEOS to discontinue Wilhelmshaven cracker project
Ineos folds silicas business into Carlyle Group's PQ Corporation
FTC Challenges Carlyle Partners’ Purchase of INEOS’s Sodium Silicate Businesses
INEOS NOVA and SEEA Polymers announce plans for new EPS plant in Romania
INEOS Polyolefins announces extension of Grangemouth PP and PE
INEOS to acquire Acrylonitrile plant from BASF
INEOS Technologies signs further agreement with Sibur LLC
SIBUR’s Tobolsk 500kt Polypropylene Plant Enters Construction Phase
Ineos might quit PVC production in Italy
Ineos heading back into Italian hands?
Italian buyer for Ineos Vinyls Italia
Ineos Vinyls Italia dispute plunges Italian chemical industry into crisis
BOC and Ineos merger refused with regard to the packed chlorine business
Vinnolit ends PVC offtake agreement with Ineos in Italy
INEOS begins consultation on future of its ageing ethylene plant
Ineos to sell assets as catalyst to reduce debt burden
INEOS says the company is adapting in turbulent times
Ineos committed to Norway ethylene expansion
INEOS wins LL/HDPE Technology Licence contract in India
INEOS Technologies wins HDPE Technology License contract in China
Ineos Vinyls Italia PVC, VCM units sale completes
Ineos asks for covenant waiver extension
Ineos Nova to shut Dutch PS plant
INEOS Group agree sale of INEOS Fluor to Mexichem Fluor S.A.
INEOS considers change of tax residence to Switzerland
CNPC in talks with Ineos for refinery assets in Grangemouth
Ineos risks revolt over £6bn debt
INEOS Oxide to build a new one million tonne, deep-sea Ethylene Terminal
Ineos sells Global Films business to Indian company
2010/11 BASF and INEOS to establish a new leading global styrenics company called Styrolution
2011/1 PetroChina and INEOS announce plans for new trading and refining JV in Europe
Swiss-based fund signs MOU to take over Vinyls Italia
2011/3 INEOS Oxide expansion of Ethylene Oxide and Ethylene Oxide Derivatives in US
2011/8 INEOS Technologies to supply VCM/ PVC technologies to QINGDAO HAIJING CHEMICAL (Group). 青島海晶化工
VINYLS ITALIA - Prospects dim for preserving PVC chain
2011/10 Vinyls Italia、PVC生産再開へ
INEOS Oxide Acquires BP
Chemicals' European Acetate Business
http://www.ineos.com/news/details_pressrealeases.php?id_press=33
On the 17th December 2001, INEOS Oxide acquired BP Chemicals' European Acetate Esters Business; subject to competition authority approvals. Completion is expected in February 2002.
Included in the deal is the acetate ester plant located on INEOS Oxide's site in Antwerp, goodwill and technology license. Financial details were not disclosed.
Platts 2003/7/23
UK Ineos buys Degussa's German Methanova unit
Germany's Degussa Wednesday said it would sell its unit Methanova GmbH to UK-based Ineos effective Jun 30 for an undisclosed price. The specialty chemicals company said the move was in line with its previously announced strategy to divest non-core operations and focus on its specialty business.
Chemical Week Aug 04, 2003
Ineos Secures Funding for U.K. Chlor-Alkali Upgrade
Ineos Chlor says it has obtained a £155-million ($251 million) financing package for a previously announced upgrade of its chlor-alkali complex at Runcorn,
Ineos Chlor will convert the 620,000-m.t./year mercury cell plant to membrane technology, using its Bichlor process; replace a boiler in the plant's power station; and modernize derivative plants that produce chloromethanes; methylene chloride; chloroform; and perchloroethylene and trichloroethylene, Crotty says.
British Plastics &
rubber 2005/10/31
Ineos integrates
Chlor and Vinyls management
The top management
of Ineos Vinyls and Ineos Chlor has been combined under the name
Ineos ChlorVinyls and the management of Ineos Chlor chief
executive Tom Crotty. Ineos Vinyls former chief executive Calum
MacLean is now responsible for managing the integration of BP's
Innovene business into Ineos. Despite the bringing together of
their management, Ineos Chlor and Ineos Vinyls remain separate
groups.
| 1815 | Joseph Crosfield & Sons establish a soapery at Warrington, UK. |
| 1890s | Castner Kellner Alkali Co. Ltd started production of caustic soda at Runcorn, UK. |
| 1952 | Founding of Phenolchemie. |
| 1954 | Start up of Gladbeck phenol/acetone plant in Germany. |
| 1960s | Installation of two state-of-the-art cell rooms at ICI Runcorn site for chlorine/caustic soda production. |
| 1966 | Union Carbide construct ethylene derivatives site at Antwerp |
| 1970s | Third cell room installed at ICI Runcorn site. |
| 1978 | Antwerp site sold to BP Chemicals. |
| 1986 | EVC formed through a 50/50 joint venture between ICI and EniChem. |
| 1990 | ICI commission the world's first HFC 134a plant. |
| 1992 | ICI open the world's largest HFC 134a plant at St Gabriel, Louisiana and the world's first HFC 32 plant in the UK. |
| 1993 | ICI
and Teijin Limited joint venture to make KLEATM134a at Mihara, Japan . Start-up of Antwerp phenol/acetone plant. |
| 1994 | EVC floated on the Amsterdam Stock Exchange. |
| 1995 | Inspec Group acquires the Antwerp site. |
| 1997 | Crosfield bought by ICI. (from Unilever) |
| 1998 | INEOS formed. INEOS acquires the Antwerp ethylene derivatives business from Inspec. |
| 2000 | Start up of Mobile phenol/acetone plant in Alabama, USA. |
| 2001 | INEOS
acquires Crosfield and forms INEOS Silicas. INEOS acquires ICI Chlor-Chemicals and forms INEOS Chlor. INEOS acquires ICI Klea and forms INEOS Fluor. INEOS acquires Dow Chemicals' global ethanolamine and USA/Canadian GAS/SPECTM gas treating amines businesses. INEOS acquires a majority shareholding in EVC. INEOS acquires Phenolchemie and forms INEOS Phenol. |
| 2003 | INEOS acquires Methanova and forms INEOS Paraform. |
| 2004 | EVC
Films established as a separate business. Acquisition by EVC Films of former films plant in Delaware, USA. |
| 2005 | Formation
of INEOS Enterprises Ltd. EVC assets become fully owned by INEOS, leading to reorganization with INEOS Chlor to form two new divisions, INEOS ChlorVynils and INEOS Films and Compounds. INEOS Films acquires Adriaplast and Caleppiovinil, Italy. INEOS acquires BASF's USA/Canadian polystyrene business and forms INEOS Styrenics. INEOS acquires UCB's worldwide amino resins and additives business from Cytec Industries Inc. and forms INEOS Melamines. |
INEOS ChlorVinyls 下記２つを統合
INEOS Chlor
2001 INEOS acquires ICI Chlor-Chemicals and forms INEOS Chlor.
INEOS Vinyls
2001 INEOS acquires a majority shareholding in EVC.
2005 EVC is fully owned by INEOS.
INEOS Enterprises
Our Brine & Water business is growing through major investment to support expansion of our key customers and new activities, for example gas storage.
We are the number one producer of sulphur chemical products in the UK and have expanded our product range and market penetration outside the UK by acquisition and major investment in new manufacturing capability.
Through our Electrochemical Technology business we have a pedigree founded in the application of technology. We are a leader in the field of electrochemical technology licensing and fuel cells, for example with our state-of-the-art BICHLOR? membrane electrolyser.
Our Esters business at Baleycourt in France is growing rapidly, focussed on the plasticiser markets. At Baleycourt we also manufacture our leading chlorinated paraffins and biodiesel product range.
From our plant at Wilhelmshaven in Germany we support INEOS Vinyls through the manufacture of chlorine for their PVC business. We also have a well-established customer base for caustic soda in the region.
At Bangpoo in Thailand we manufacture plasticisers through our joint venture IACC with The East Asiatic (Thailand) Company.
2001 INEOS acquires ICI Chlor-Chemicals and forms INEOS Chlor.
2004 INEOS Chlor Enterprises formed.
2004 New esters and biodiesel business established at Baleycourt, France.
2004 Acquisition of sulphur chemicals business from Albion.
2005 INEOS Chlor Enterprises renamed INEOS Enterprises.
INEOS Films and Compounds
2001 INEOS acquires a majority shareholding in EVC.
2004 EVC Films established as a separate business.
Acquisition of former films plant in Delaware, USA and of Dub Sebuca Compounds business in France.
2005 Acquisition from Solvay of Adriaplast and Caleppiovinil, Italy.
EVC assets acquired by Ineos,
with the Ineos Compounds business tranferred to join Ineos Films in a single downstream Ineos Films and Compounds.
INEOS Fluor
2001 INEOS acquires ICI Klea and forms INEOS Fluor.
INEOS Melamines
1970 Hoechst becomes the major shareholder of Cassella AG (75% Hoechst, 25% widely held stock).
1995 Change of ownership from Cassella AG to Hoechst AG, Site Cassella.
1999 Acquired by Solutia Inc.
2003 Acquired by UCB / Surface Specialties.
2005 Acquired by but held separate from Cytec Surface Specialties.
Acquired by INEOS and formation of INEOS Melamines GmbH.
INEOS Oxide
1966 Union Carbide constructs its first major European ethylene derivatives site in Antwerp.
1978 Antwerp site sold to BP Chemicals.
1995 Inspec Group acquires the Antwerp site and expands the EO/EG plants to 200/200 ktpa.
1998 INEOS acquires the Antwerp site and expands the EO/EG plants to 300/300 ktpa.
1999 Acquisition of BP's Antifreeze business.
2001 Acquisition of Dow Chemicals Global Ethanolamine and US/Canadian GAS/SPEC? gas treating amines businesses.
EO/EG plant expanded to 420/340 ktpa.
2002 Acquisition of BP's Acetate Esters Business.
2003 Expansion of Plaquemine EOA capacity to 170 ktpa.
INEOS Paraform ( Formaldehyde, Paraformaldehyde, Hexamethylene tetramine and Alkali Cyanates )
1856 First production in Mainz / Germany.
1931 Takeover by Degussa AG.
1999 Establishment of a subsidiary Methanova GmbH.
2003 INEOS acquires Methanova and forms INEOS Paraform.
INEOS Phenol
1952-1954 Founding of PHENOLCHEMIE in Gladbeck
by Bergwerksgesellschaft Hibernia AG, Scholven Chemie AG (both merged to VEBA Chemie AG in 1961),
Rutgerswerke AG and Bakelite GmbH (in 1954 replaced by Harpener Bergbau AG).
1979 VEBA Chemie AG transferred its 50% share to Huls AG.
1994 Full Acquisition by Huls AG.
1998 Merger of Degussa AG and Huls AG resulting in Degussa-Huls AG.
2001 INEOS acquires PHENOLCHEMIE and forms INEOS Phenol.
INEOS Silicas
1997 Crosfield, along with Unilever's other specialty Chemicals businesses, was sold to ICI.
2001 INEOS acquires Crosfield and forms INEOS Silicas.
INEOS Styrenics
1960's Site developed by Rexene Polymers.
1978 Purchased by Mobil Chemical.
1983 Start-up of production facility using BASF technology.
1992 Business acquired by BASF.
2005 Acquired by INEOS Americas LLC.
2006/1 New INEOS business names confirmed
(Innovene
統合による）
2006/6/7 INEOS
INEOS announces plans for a major expansion of its Ethylene
Cracker plant at Koln Site.
http://www.ineos.com/new_item.php?id_press=129
INEOS has agreed
pre-sanction expenditure for a major cracker expansion at its
Koln Site【 bought in with the former BP
Innovene businesses】. Construction of a Euro 40
million unit is planned to begin early in 2007, following the
projects final approval expected later this year. Capacity from
the new unit would be brought on-line during 2008.
Tom Crotty, CEO INEOS Olefins said, “The expansion of the Koln Cracker
is a clear sign of INEOS’commitment to the Koln Site and to
the Olefins Business in Europe. INEOS is developing a number of
expansion opportunities throughout the business and I am
delighted to begin with this planned investment at the heart of
our business in Koln.”
Once completed, the
new expansion unit will serve two naphtha crackers and will lead
to an additional production of ethylene of around 100 000
tons per annum.
The additional ethylene will either be used at the Koln Site to
produce polyethylene or will be supplied to other INEOS sites via
the ARG pipeline system. In constructing the new unit, advanced
technology will be applied with emphasis on the optimisation of
energy use and the control of emissions.
Basic engineering work has already commenced with LINDE and ABB
Lumus leading the project planning activities.
2006/6/23 INEOS
INEOS Technologies wins second technology license contract for
Chinese market
http://www.ineos.com/new_item.php?id_press=130
INEOS Technologies has
licensed its ‘Innovene S Process’
for the manufacture
of HDPE
and MDPE to
China Petrochemical International Company Limited for use at Sinopec Tianjin
Petrochemical Company, Tianjin, China.
The 300-ktpa
plant will
produce a full range of Ziegler and Chrome monomodal and bimodal
products for the Chinese market.
This is the second time that INEOS has licensed this process into
China during the last year. In September 2005 INEOS licensed an
'Innovene S' 300-ktpa unit, including a downstream pipe
compounding facility, to PetroChina International Company
Limited, for their new major expansion project at
Dushanzi, Xinjiang.
Peter Williams, CEO of INEOS Technologies, commented: "We
are very pleased to have been selected as the licensing partner
on these projects by two of the premier companies in China, and
we look forward to working with both to deliver first class
manufacturing assets based on our leading polyethylene
technology."
Polymer plants licensed by INEOS started up successfully by PetroChina Dushanzi Petrochemical Co in China
PetroChina Dushanzi Petrochemical Company in Xinjiang, China has started up both of their INEOS Technologies licensed polymer units within days of each other. The 550 KTA Innovene PP polypropylene plant comprises the 5th and 6th Innovene PP lines to start up in China since 1998. The high density polyethylene plant is the first licensee line to 300 KTA Innovene S start up using this latest generation of technology. In both cases successful and continuous plant production was obtained within minutes of catalyst introduction to the reactors.
Dr. Peter Williams, CEO INEOS Technologies, stated that: “INEOS Technologies is pleased that these plants will become part of the expansion of PetroChina’s polyolefins operations, contributing to the growing industry in China. The rapid start up of both plants provides testament not only to the quality of the technologies themselves, but also to the highly effective preparations and teamwork of PetroChina Dushanzi’s implementation teams, the service providers, and the INEOS start up teams.”
European Commission
clears proposed acquisition of BP's Dormagen business by INEOS
http://www.ineos.com/new_item.php?id_press=138
The European Commission has today cleared the way for INEOS to acquire BP's Ethylene Oxide/Ethylene Glycol business in Dormagen, Germany. Following an in-depth investigation the Commission has concluded that the proposed acquisition would not significantly impede competition in the European Economic Area (EEA) or a substantial part of it.
INEOS Enterprises announces strategy for significant growth of its European biodiesel business and confirms major biodiesel investment for Grangemouth
INEOS
Enterprises has today announced a strategy to achieve significant
growth of its biodiesel business across Europe. The first step of
this strategy will be to achieve at least 2 million tonnes
of biodiesel output by 2012, with some 1.2 million tonnes by
2010.
Ineos shelves plans for four European biodiesel plants
European petrochemicals and refining group Ineos has shelved plans to build four new biodiesel plants across Europe due to the current global economic slowdown, the company said Thursday.
He said work to expand Ineos' existing Baleycourt biodiesel plant in France remains on schedule to reach its full 220,000 mt/yr capacity by year-end.
2006/12/11 Ineos
INEOS Enterprises Announces Plans for Major Investment in New
Biodiesel Facility at Port of Antwerp
INEOS Enterprises has today announced details of its proposals
for a major investment in a new
biodiesel facility
at the INEOS site at Zwijndrecht in the Port of Antwerp. The
investment, which will be in excess of Euro 90 million, forms
part of the Company’s strategy to deliver significant
growth and become the premier supplier of biodiesel across
Europe. The Company expects the plant to be operational by early
2009.
The new facility, which will have a capacity of at
least 500,000 tonnes per annum, intends to use a good proportion
of feedstock sourced from Belgian suppliers. It will have the
capability of providing secure biodiesel supplies to the entire
Belgian biofuels market in addition to supplying further afield
across Europe. The facility would also use glycerine as a bi-product of biodiesel
production to stimulate the development of glycerine technology
at the site. In parallel to this investment by INEOS, a third
party investment in a new vegetable oil extraction
facility is
also being planned in the vicinity, bringing about further
synergies, and leading to the creation of a regional ‘bio-hub’.
INEOS Polyolefins announce Euro150 million investment in European assets.
Polypropylene capacity expansions will take
place at its facilities in Geel, Belgium and Grangemouth,
Scotland. At Geel a 220 ktpa expansion of the Innovene P gas phase
polypropylene unit will increase this unit's capacity to 500ktpa,
transforming it into one of the largest units in the world.
The
smaller slurry/dry flash polypropylene asset at Geel will close
later this year.
At Grangemouth the 220ktpa liquid
pool polypropylene unit will undergo a 30ktpa debottleneck
raising its capacitiy to 280ktpa, with a further 30ktpa
debottleneck to
be implemented when market demand permits.
High
density polyethylene capacity
expansions will take place at INEOS Polyolefins' Lillo
manufacturing site, whereby the capacity of its proprietary
bi-modal slurry phase unit will be increased by 200ktpa to
630ktpa. The
new capacity which will be in place by 2009 will also make this
asset one of the largest in the world.
At Grangemouth,
given the current situation in plant economics, and provided
there are no significant changes in market conditions, the smaller and
older of its two gas phase polyethylene units, a HDPE unit,
located at this site will close at the end of 2007.
| 立地 | 能力千トン | |||
| PP | Geel | 280→500 | Innovene P gas phase | slurry/dry flash設備 停止 |
| Grangemouth | 220→250→280 | Liquid pool | ||
| HDPE | Lillo | 430→630 | bi-modal slurry phase | |
| Grangemouth | gas phase 2基の小さい方を停止 |
2007/2/14 Asia Chemical Weekly
Ineos gets go-aheads with
two projects in China
Ineos has get go-aheads with two projects in China, the one is
the jv fluoride project in Jiangxi Province, the another is the
phenol/acetone project in Zhejiang Province.
Ineos
Fluor, a
unit of Ineos Group, has formed a jv with Zhejiang Xing Teng (浙江星騰) Chemical Co for the construction
of a 40,000 tonne/year anhydrous HF acid 無水弗化水素酸
plant in Shangrao(上饒), Jiangxi province. The project
is scheduled for completion by end of 2007, and it will supply
raw materials to its fluorochemicals plant in Mihara,
Japan.
The new jv company, which named as Jiangxi In-Tech (江西英騰) Chemical Co, will supply around
15,000-20,000 tonne/year of hydrogen fluoride to the Mihara
plant. The rest output will be used to Zheijiang Xing Teng
Chemical's fluorochemicals operation and supply to the merchant
market.
Also, Ineos Phenol, another subsidiary of Ineos
Group, has got the approval from government to build a world
scale phenol/acetone project in Zhangjiagang (張家港), Zhejiang Province. The projects
will cost around RMB 1.867 billion (USD 240 million), and it will
produce 400,000 tonne/year of phenol and 250,000 tonne/year of
acetone. Work on the project is aimed to start by June this year
and it is expected to start up within three years.
China's imports for phenol and acetone over the past three years
shows following.
| China imports (kt) | ||||||||||||
|
2000年12月7日
ICI・帝人の代替フロン合弁会社の事業売却について
英国ICIと帝人は、両社の折半出資会社アイ･シー･アイ･帝人フロロケミカル（製造所:広島県三原市）の設立に関する現行の合弁基本契約を終了し、ＩＴＦの全株式をINEOSに売却することに合意しました。
ITFは, ICIと帝人の折半出資により1992年にオゾンを破壊しない代替フロン「クリー134aR」の製造会社として設立され,高品質のサービスを提供してきました。
帝人は、フロロケミカル類の回収･分解業務を含め、業務受託の形態でINEOSグループ三原製造所での生産オペレーションを引き受けて行きます。
INEOS Phenol to invest in 400,000 tonne phenol acetone plant in China
Following
approval by the National Development Reform Commission (China),
the Ministry of Commerce and the Jiangsu Province Administration
of Industry and Commerce, INEOS Phenol has announced its
intention to invest in a 400,000 tonne phenol plant in
Zhangjiagang,
Jiangsu Province, China. The new facility, which will also
produce 250,000 tonnes of acetone, will be solely owned by INEOS and
is expected to be completed at the end of 2009.
It is expected that production from the Zhangjiagang facility
will serve the growing market for phenol and acetone in China and
will free capacity at the company's European and US plants to
meet growth in these regions. The completion of this new plant in
China will increase INEOS Phenol's overall annual capacity to
over
2.2 million tonnes of phenol and 1.2 million tonnes of acetone.
"When completed, INEOS will be the only company in the world
to have phenol and acetone production in
Europe, the US and Asia said Alberto Spera, CEO INEOS
Phenol.
This announcement follows closely behind the INEOS agreement, in
January, to manufacture HF in Shangrao, Jiangxi Province and reinforces
the company's commitment to increase its manufacturing
capabilities in Asia, with a particular focus on China.
INEOS Phenol, currently has a nameplate capacity of 1690 ktonnes of
phenol and 1050 ktonnes of acetone a year. It has a turnover of
around Euro3.2 billion and employs 600 people worldwide. The
company is the world's largest producer of Phenol and Acetone and
the only manufacturer with production facilities both in Europe
and America .
INEOS
Nitriles announces acrylonitrile capacity expansion
INEOS Nitriles today announced plans for a major capacity
expansion at its acrylonitrile complex in Green Lake, Texas. This
project includes the installation of a fourth reactor train and
additional investment in associated equipment at Green Lake. Upon
completion and startup in the third quarter of 2008, Green Lake will
become the largest acrylonitrile production facility in the world with 544 kt of total
capacity or
1.2 billion pounds.
INEOS
Oxide: EO and EOA expansion at Lavera
INEOS Oxide announced today, the intention to expand its ethylene
oxide and ethanolamine derivative capabilities at its site in
Lavera, France.
The expansions will include additional EO capacity and de-bottlenecking
of its 55 kt ethanolamine unit to a worldscale,
state of the art, 180 kt facility. With the expansion, INEOS Oxide
will become the world's leading ethanolamine seller, with an overall
nameplate capacity of 360 kt. Production from these facilities
will commence early in 2010.
INEOS Capital to buy Hydro's polymers business
INEOS
Capital today announced it has reached agreement to acquire Norsk
Hydro ASA's polymers business for NOK 5.5 billion, (Euro 670
million) subject to closing adjustments.
The acquisition of Hydro's polymers activities, recently renamed Kerling ASA, will allow INEOS to progress its
growth strategy in Europe and will enable the company to
integrate high quality assets, people and capabilities into its
wider business. The acquisition of Kerling represents a very good
product and geographic fit, providing complementary assets,
expertise and market positions across Europe. INEOS will benefit
from an enhanced position across its chloralkali, polymer and
compounds businesses, as well as acquiring a 50% share in the
Noretyl ethylene cracker at Rafnes, Norway, which is a joint
venture with Borealis.
Kerling is a wholly-owned subsidiary of
Norsk Hydro ASA, consisting of 1,200 staff and production
facilities in Norway, Sweden and the United
Kingdom. The
business also has interests in joint ventures in Norway, Qatar
and China and a shareholding in the Portuguese PVC Producer CIRES, which is listed on Euronext in
Lisbon.
拠点は以下の通り。
ノルウエー 電解、VCM、PVC
Noretyl AS （Borealis との50/50エチレンJV）
スエーデン 電解、VCM、PVC、PVCコンパウンド
英国 PVC、PVCコンパウンド
中国 Suzhou Huasu Plastics （31.8%出資のPVCのJV）
カタール Qatar Vinyl Company （29.7%出資のJVで電解、EDC、VCMを製造）
ポルトガル CIRES （信越化学とのPVCのJVで26%出資）
September 7th 2007 EU (IP/07/1290)
Mergers: Commission opens in-depth investigation into proposed acquisition of Kerling by INEOS
The European Commission has opened an in-depth investigation under the EU Merger Regulation into the planned acquisition of Kerling ASA of Norway by the UK-based INEOS Group Limited. The Commission’s preliminary market investigation found that the proposed transaction raises serious doubts as to its compatibility with the Single Market and the European Economic Area (EEA 欧州経済領域) agreement given the strong market position that Ineos would achieve on the Suspension PVC (S PVC) market in some Member States, in particular in the UK. The Commission now has 90 working days (until 11 January 2008) to decide whether the takeover would significantly impede effective competition within the EEA or a significant part of it. A decision to open an in-depth investigation does not prejudge the final result of the procedure.
Competition Commissioner Neelie Kroes said “After this transaction, INEOS would become by far the largest supplier of S PVC to the UK merchant market and the only local producer in the UK. It is the Commission’s duty to thoroughly analyse the consequences of such a transaction to ensure that it would not harm business and domestic consumers”.
INEOS is active in the production and distribution of speciality chemicals on a global level. Kerling is a subsidiary of Norsk Hydro ASA and comprises the polymer division of the Norsk Hydro group. It is mainly active in the production and supply of polyvinyl chloride (PVC) and caustic soda.
The proposed transaction would mainly affect the commodity Suspension PVC market (S PVC). S PVC is mainly used in the production of plastic products such as PVC tubes, window frames and PVC films. Following its initial investigation the Commission believes that the geographic scope of the S PVC market may be regional or national and in any case narrower than EEA wide. Several factors, such as extremely high market shares, differences in market conditions and indications that with small but durable price increases by INEOS the remaining competitors would not be likely to increase their presence in certain countries, indicate the presence of national relevant markets. Should the relevant markets be national, then following the transaction INEOS would have a strong position in the production and supply of S PVC in various Member States, in particular in the UK, Norway and Sweden. At this stage of the investigation other suppliers from Continental Europe (for example from Germany, France or The Netherlands) do not appear able to exert enough competitive pressure to constrain attempts by INEOS to increase prices.
During the first phase of the investigation, INEOS submitted an initial set of undertakings aimed at removing the competitive concerns identified by the Commission. However, in light of the market test and the analysis carried out by the Commission, these undertakings proved to be unsatisfactory and insufficient as they failed, in particular, to eliminate competition concerns in the UK S PVC market.
On the basis of these concerns, the Commission has decided to open a second phase investigation in order to carry out an in-depth assessment of the effects of the transaction with a focus on the UK S PVC market. During its in-depth investigation, the Commission will also analyse the impact of the transaction in other national markets, in particular Norway and Sweden, as well as the impact on the market for caustic soda, S PVC compounds and rigid PVC films.
欧州経済領域（EEA） 欧州経済共同体（EEC）と欧州自由貿易連合（EFTA）にまたがる経済領域。両者は、1972年に自由貿易協定を締結し、さらに1994年1月には、双方にまたがる広範な共同市場を目指す欧州経済領域（EEA）を発足させた。
欧州自由貿易連合（EFTA） 1958年の欧州経済共同体（EEC）の発足に伴い、EECの枠外にあった欧州７か国（英、オーストリア、デンマーク、ノールウェー、ポルトガル、スウェーデン、スイス）は欧州自由貿易連合を設立。
現在のEFTA加盟国は、スイス、ノールウェー、アイスランド、リヒテンシュタイン。なお、スイスのみEEAに不参加。
Ineos Chlorvinyls Announces Sale of its E-PVC Business to Vinnolit
INEOS
ChlorVinyls has today announced it is to sell its Emulsion PVC
(E-PVC) business to Vinnolit GmbH & Co. KG. The value of the deal is not
disclosed.
The sale consists of the commercial goodwill of the INEOS
ChlorVinyls E-PVC business along with its E-PVC production
facilities at Hillhouse (UK) and Schkopau (Germany). The deal
will also include Vinnolit entering into an offtake agreement for
the entire E-PVC output at Porto Torres (Italy).
INEOS ChlorVinyls retains its European VCM and Suspension PVC
(S-PVC) businesses at Runcorn and Barry in the UK; Wilhelmshaven
and Schkopau in Germany; and Porto Marghera, Porto Torres and
Ravenna in Italy.
2007/6/5 Borealis Ineos 発表
Borealis sells its
petrochemical business in Norway to Ineos
Sale of Norwegian polyolefins business and share in Noretyl gas
cracker to Ineos
Creation of independent innovation company
Group support functions remain in Norway as a separate unit
Continuing with the restructuring of its Norwegian operations,
Borealis AS announces that it has reached an agreement to sell its
petrochemical business in Bamble, Norway, to Ineos for EUR 290 million. It has also
been decided to create a new independent innovation company to
take over its innovation centre in Bamble and to retain the
existing group support functions at the location as a separate
unit.
The facilities sold to Ineos comprise a 175,000 tonne per
year (t/y) polypropylene (PP) unit and a 140,000 t/y low density
polyethylene (LDPE) unit, as well as a 50% share of the
557,000 t/y Noretyl gas cracker. The polyolefin units manufacture
plastics mainly for the growing moulding, film and fibre, and
extrusion coating industries in Northern Europe.
注 Borealis Home Page ではPE能力は270千トンとなっている。
LDPE 140
HDPE 130 →110 →閉鎖（検討）
Noretyl →Ineos
100%
Borealis 50% →Ineos
Norsk Hydro 50% →Norsk HydroのHydro PolymerをIneos
が買収
Borealis evaluates possible closure of HDPE plant in Norway
The HDPE plant in Norway is one of three production units in Bamble, 160 kilometers southwest of Oslo. The plant started up in 1979 with a capacity of 50,000 tonnes per year and after several debottleneckings, the capacity is today 110,000 tonnes per year. The main products are in the areas of blow moulding and rotomoulding e.g. materials for bottles and leisure boats.
INEOS Group acquires Borealis AS and secures ownership of Noretyl Cracker at Rafnes.
INEOS Group today announced it has reached agreement to acquire the Borealis AS petrochemical business in Norway for EUR 290 million, debt free. The deal includes 50% of the Noretyl ethylene cracker at Rafnes and associated downstream, integrated businesses at the nearby Bamble polyolefins site.
The acquisition of Borealis AS follows the recent announcement made by INEOS Capital, to buy Norsk Hydro ASA’s polymers business (Kerling) and completes the total purchase of the Noretyl cracker, a 50:50 Joint Venture between Norsk Hydro and Borealis AS. The opportunity to purchase both shareholding interests in the Noretyl cracker presents INEOS with unique benefits by bringing the businesses at Rafnes under a single ownership.
The acquisition of Borealis AS provides a complementary fit with its existing Olefins and Polyolefins portfolios, technology and expertise. It also improves integration into key feedstocks allowing the company to optimise across its existing assets in Scotland (Grangemouth), Benelux (Antwerp, Lillo and Geel), Germany (Köln and Wilhelmshaven) and France (Lavéra) giving INEOS an extended geographic reach in European Markets.
INEOS agrees joint venture with LANXESS to operate the ABS plastics business.
INEOS
Group today announced that it has agreed to set up a Joint Venture with
LANXESS, the
German chemicals and polymers group, through which it is to take
over the operation of the LANXESS ABS plastics business,
Lustran Polymers.
On completion of the first stage INEOS will pay LANXESS Euro35m
for a 51 percent majority share in a new business that is to be
called INEOS ABS.
As part of the agreement INEOS will then acquire the remaining 49 percent share
in the new company, two years after the first stage of the deal closes, for a price
based on the performance of the business in the two year period.
Lustran Polymers is currently the world's third largest and
Europe's leading supplier of ABS plastics, with sales amounting
to almost EUR 900 million. On completion of the agreement, assets
in
Dormagen (Germany); Tarragona (Spain); Map Ta Phut (Thailand);
Vadodara (India); Addyston (USA) and around1600 employees are to
transfer into the new company.
LANXESS
In 2006, the international workforce of around 1,600 in the Lustran Polymers business unit achieved an EBITDA pre exceptionals of approximately EUR 16 million, with sales amounting to almost EUR 900 million. For 2007 an EBITDA pre exceptionals of approximately EUR 40 million is expected.
税引前利益に支払利息と減価償却費を加算
2007/7/5 INEOS
INEOS Polyolefins announce PP restructuring at Sarralbe
Having already announced investment projects of more than
Euro150M over the next three years, notably in high density
polyethylene (HDPE) at Lillo and polypropylene (PP) at Geel, INEOS Polyolefins announced today
its intention to further restructure its assets to ensure a
robust production platform capable of maintaining its leading
market position for the long-term.
Consistent with this strategy, INEOS Polyolefins intend to exit PP
production on two of their three PP lines at Sarralbe in France. The two slurry lines have become
unsustainable due to feedstock issues and their exposure to
grades/markets unable to provide sufficient returns through the
cycle.
| Sarralbe in France （千トン） | ||||||||||||||||||
|
INEOS to discontinue Wilhelmshaven cracker project エチレン80万トン計画
INEOS
has reluctantly decided that it will suspend all further work on
the planned investment in a new ethane cracker at the
Wilhelmshaven site,
Germany, following recent discussions between Statoil, E.ON
Ruhrgas and INEOS on this investment project.
Increasing
capital costs
of well over 30% in the last twelve months alone have made the
project, in its current form, economically unviable.
Using ethane from a gas separation unit to be constructed by
Statoil and E.ON Ruhrgas in Dornum, INEOS had planned to expand
its operations at the site through investments in a new ethane steam
cracker,
with accompanying investments in a new membrane
chlorine cellroom along with major uprates to its existing VCM
and SPVC plants. In
addition, it was to construct an ethylene pipeline
from Wilhelmshaven to the ARG pipeline in North Rhine-Westphalia.
In Germany, the INEOS site at Wilhelmshaven is operated by INEOS ChlorVinyls and produces chlorine and caustic soda, along with S-PCV and VCM for use in the PVC chain.
Ineos folds silicas business into Carlyle Group's PQ Corporation
Ineos announced Thursday
that it would merge its Ineos Silicas business with Carlyle Group's PQ
Corporation.
The Carlyle Group would hold 60% share and Ineos approximately
40% of the new company.
The combined business would become a global producer of speciality
inorganic chemicals, catalysts, and engineered glass products with annual sales revenue
estimated at $1 billion.
Business consists of three product and technology platforms based on silicate-based speciality chemicals, catalytic Zeolites and Zeolite-based catalysts and magnesium derivative chemistry. Potters Industries, PQ Corporation's wholly owned subsidiary, is a leading producer of engineered glass materials serving the highway safety, polymer additive, metal finishing, and conductive particle markets.
2001年3月30日、東芝Potters Industries は、日本における両社共同出資によるガラスビーズ事業の合弁会社「東芝バロティーニに関して、東芝の保有株式５１％をポッターズ社にすべて譲渡し、ポッターズ社の１００％子会社「ポッターズ・バロティーニ株式会社」とすることで合意した。
東芝バロティーニは、東芝とポッターズ社の合弁会社として、１９６６年に設立されて以来、日本におけるガラスビーズのトップメーカとして、道路用反射材や、金属など各種材料の表面処理などで使用されるブラスティング・フィラーを中心とする工業用ガラスビーズおよび関連製品を製造・販売している。
ガラスビーズは道路の白線や黄線へ混入し、小さなレンズと塗料の組み合わせで「再帰反射特性（ヘッドライトから出た光がビーズで屈折、塗料で反射されて効率よく運転者の方へ帰る）」を発揮する。PQ Corporation is a leading producer of silicate, zeolite, and other performance materials serving the detergent, pulp and paper, chemical, petroleum, catalyst, water treatment, construction, and beverage markets. It is a global enterprise, operating in 19 countries on five continents, and along with its chemical businesses, includes Potters Industries, a wholly owned subsidiary, which is a leading producer of engineered glass materials serving the highway safety, polymer additive, metal finishing, and conductive particle markets.
PQ Corporation was founded in 1831 and was known as the Philadelphia Quartz Company from 1864 until 1978. The values of our founders - integrity and fairness, diligence and service, learning and imagination - are still reflected in our contemporary corporate culture. We believe that this culture and the strong spirit of teamwork it fosters are of immense benefit to our customers, our employees, and our suppliers alike.
On June 1, 2007, CCMP Capital Advisors, LLC, on behalf of J.P. Morgan Partners, LLC, has reached an agreement for The Carlyle Group to acquire Niagara Holdings, Inc., parent company of PQ Corporation.
The transaction value is approximately $1.5 billion.
FTC Challenges Carlyle Partners’ Purchase of INEOS’s Sodium Silicate Businesses
Companies Required to Sell Carlyle’s Sodium Silicate Plant in Utica, Illinois
The Federal Trade Commission today issued a complaint charging that Carlyle Partners IV, L.P.’s (Carlyle) proposed acquisition of the world-wide sodium silicateケイ酸ナトリウム and silicas business of INEOS Group Limited (INEOS) would be anticompetitive and in violation of the antitrust laws. Carlyle owns PQ Corporation (PQ), and the transaction as proposed would therefore combine PQ ? the largest sodium silicate producer and seller in the highly concentrated Midwest region of the United States ? with INEOS, its third-largest competitor.2007年10月11日、Ineos はIneos Silicas をCarlyle Group の PQ Corporation に統合すると発表した。
Carlyle Group が 新会社の 60%、Ineos が 40% を所有する。
PQ Corporation は旧称 Philadelphia Quartz で、silicate ベースのspeciality chemicals、Zeolite 触媒、マグネシウム誘導品を事業とし、100%子会社のPotters Industries で engineered glass materialss 事業を行っている。
2007年6月にCarlyle Group が15億ドルで買収した。To remedy the alleged anticompetitive effects of the transaction, the companies have entered into a consent agreement with the Commission that requires them to sell PQ’s sodium silicate plant and businesses in Utica, Illinois, to an FTC-approved buyer. The order also requires the companies to license all of the intellectual property related to sodium silicate product at the Utica plant.
2008/7/2
PQ Corporation, INEOS Silicas Merger Complete
Combination Creates Global Producer of Specialty Chemical Products
PQ Corporation announced today that it has completed its merger with INEOS Silicas. The merger was originally announced on October 11, 2007. The combination of the two companies forms a global producer of specialty inorganic chemicals, catalysts and engineered glass products with annual sales revenues in excess of US $1 billion. The merged company will continue to be known as PQ Corporation and will be headed by Mike Boyce, Chairman and Chief Executive Officer.
2008/1/11 Ineos
INEOS to buy Vinyl
Acetate Monomer and Ethyl Acetate businesses from BP
INEOS today announced it has reached an agreement to acquire the Vinyl Acetate
Monomer (VAM) and Ethyl Acetate (EtAc) businesses from BP. The deal comprises 500ktpa of
production capacity at
the Saltend manufacturing site near Hull, UK, along with the Teesside to
Saltend Ethylene Pipeline (TSEP).
The Ethyl Acetate plant was commissioned in 2001 and has a
capacity of 250ktpa, making it one of the world’s largest single Ethyl Acetate
facilities. Ethyl Acetate is used in the manufacture of printing
inks, glues, paints, packaging, cosmetics and pharmaceuticals.
The Vinyl
Acetate Monomer
plant, which also has 250ktpa capacity, was commissioned in
2002 and supplies an essential raw material for paints,
adhesives, floor coverings and clothing production. Between them,
the facilities employ around 40 people, who it is expected will
transfer to INEOS on completion of the acquisition. The combined
sales revenue in 2007 was around $400m.
BP to Sell Two Chemicals Businesses Based at Hull
BP announced today its intention to sell its ethyl acetate (ETAC) and vinyl acetate monomer (VAM) manufacturing units at Saltend, near Hull, UK, and the associated commercial businesses.
The decision follows a review which concluded that the Saltend site would focus on its existing acetic acid and acetic anhydride 無水酢酸businesses. In addition, BP is proposing to relocate all commercial roles in the European region of its acetyls business from its offices in Sunbury-on-Thames, Middlesex to the Saltend site. The proposed move is expected to create more than 30 commercial roles at the Saltend Site which is the largest producer of acetic acid in Europe.
Guy Moeyens, the Business Unit Leader of BP Acetyls said “We are committed to supplying acetic acid to customers around the world. We will continue to develop world class technology in acetic acid and acetic anhydride using our research and manufacturing facilities at Saltend. We will ensure that our staff, customers, suppliers and contractors are kept informed of developments”
Notes for editors:
- Vinyl acetate monomer (VAM) is used in paints, adhesives, floor coverings and clothing. Ethyl acetate (ETAC) is used in printing inks, glues, paints, packaging, cosmetics and pharmaceuticals.
- BP Saltend produces about 600,000 tonnes of acetic acid per year, the largest manufacturer in Europe; and about 150,000 tonnes of acetic anhydride per year. Acetic acid is used in VAM, PTA esters and other intermediates and acetic anhydride is used in cellulose acetate and chemical derivatives.
- ETAC and VAM are manufactured from acetic acid and ethylene using technology developed by BP’s research laboratories at Saltend.
- Globally, BP and its joint ventures produce around 2,900,000 tonnes of acetic acid, 150,000 tonnes or acetic anhydride, 400,000 tonnes of VAM; and 300,000 tonnes of ETAC.
- Around 400 people are employed on the manufacturing site at Saltend with a further 185 employed in the research and technology centre.
BP Starts Commercial Production From World's Largest Ethyl Acetate Plant
BP has started full-scale commercial production from its new Avada ethyl acetate production unit at its site at Saltend, Hull, UK. The 220,000 tonnes a year capacity unit is the world's largest single ethyl acetate production unit.
The plant is the first to use BP's proprietary Avada technology which produces ethyl acetate directly from ethylene and acetic acid. Ethylene is supplied to the plant through the recent extension of the UK ethylene pipeline system, linking Hull to BP's Grangemouth complex, and acetic acid is supplied from three plants on the Saltend site itself.
2008/1/30 Ineos EU
extends inquiry deadline for Ineos buy of Kerling to Jan 11
European Commission Gives Clearance for INEOS acquisition of
Hydro Polymers
INEOS Capital confirms that it has today received unconditional
clearance from the European Commission for the purchase of the
Hydro Polymers businesses in Norway, Sweden and the UK from Norsk
Hydro ASA. The acquisition was agreed with Norsk Hydro last year
and includes the remaining 50% interest in the Noretyl ethylene
cracker at Rafnes, INEOS Group having acquired the other 50% from
Borealis last summer.
The Commission has now confirmed that, following its assessment
of the information gathered during the inspections, it has come
to the conclusion that the allegations of early
implementation were unjustified and it will not therefore be
taking the matter any further.
2008/2/24 Ineos
INEOS Polyolefins announces extension of Grangemouth PP and PE
INEOS Polyolefins today announced its intention to invest in random co-polymer
technology on its liquid pool polypropelene (PP) unit at Grangemouth, Scotland.
In early 2007, INEOS Polyolefins announced the 50ktpa
debottleneck of its liquid pool polypropylene unit, raising its
capacity to 285ktpa. This investment has now been
completed and has enabled the company to implement a further
step-change in the asset's capability,
As part of its development of the polyolefin platform at
Grangemouth, INEOS Polyolefins also intends to introduce swing capability
on its 310 ktpa LLDPE plant to produce HDPE grades.
INEOS to acquire Seal Sands site (UK) from BASF
INEOS
today announced that it has agreed to purchase the Seal Sands
site on Teesside (UK) from BASF plc, a subsidiary of the German
chemical company BASF. The acquisition is being made by INEOS
Nitriles Limited and is conditional on approval from the relevant
antitrust authority. The value of the deal is not disclosed.
The Seal Sands site provides large-scale production facilities
for acrylonitrile
(AN), adipodinitrile (ADN) and
hexamethylenediamine (HMD), along with by-product plants.
The
Acrylonitrile plant at Seal Sands currently produces around 230,000 tonnes per annum with the majority of
product being used to supply three BASF downstream businesses,
located at Antwerp (Belgium), Seal Sands (UK) and Ludwigshafen
(Germany).
The adipodinitrile (ADN) and the hexamethylenediamine (HMD) plants have been excluded from the sale although INEOS Nitriles will run these.
“HMD remains a key element in BASF’s PA 6.6 value chain,” BASF said and so the company has held on to them.
The ADN plant at the site is to be closed permanently at the end of 2008 - this was previously announced by BASF in June 2007 after they signed an external supply agreement with US-based Invista.
ADN→HMD→PA 6.6
INEOS already has global nameplate production nitriles capacity of 960,000tonnes/year with plants in Cologne, Germany and Green Lake and Lima, US.Koeln, Germany is INEOS nitriles second largest acrylonitrile site and produces 320,000 tonnes.
INEOS Green Lake plant, in Calhoun County, Texas, today produces 450,000 tonnes of acrylonitrile per year.
Lima, Ohio produces 190,000 tonnes of acrylonitrile.
2008/3/27 Ineos
INEOS Technologies signs further agreement with Sibur LLC
Sibur
LLC has
selected INEOS' Innovene PP Process for a new 200,000 tpa
polypropylene plant to
be constructed at the production site of Tomskneftekhim LLC,
Tomsk, Russian Federation.
Sibur previously licensed a 500,000 tpa plant based on
Innovene PP technology at its industrial complex in
Tobolsk, Tyumen Region, Russian Federation.
INEOS Technologies’ complete portfolio of leading
licensed technologies includes:
・ Innovene
PP gas phase technology for the production of polypropylene
・ Innovene
S slurry technology for the production of mono- and bi-modal HDPE
・ Innovene
G swing gas phase technology for the production of LLDPE and HDPE
・ Polystyrene
general purpose, high impact and expandable PS technologies
・ BICHLOR
membrane electrolyser technology for chlor alkali production
・ Vinyls
technology for the production of EDC, VCM and PVC
・ Nitriles
technology for the production of acrylonitrile and maleic
anhydride
Ineos mulls future of PVC
production in Italy
Modernisation
plan in trouble at Porto Marghera
Chemicals giant Ineos could quit production of PVC and vinyl chloride monomer (VCM) at Porto Marghera, just outside Venice, if it fails to resolve a long-running problem over supply of chlorine to the site.
Italian subsidiary Ineos Vinyls Italia said it has been working for the past four years on a modernisation plan for the Porto Marghera site, where PVC production capacity is around 200,000tpa.
In a statement earlier this year, the company said it had invested Euro 60m in the site since 2000. It also said that it wanted to balance production of VCM and PVC, in a plan that would, among other things, raise PVC capacity to 260,000tpa.
The plan hinges on the acquisition of a chlor-alkali plant, currently owned by Syndial, a subsidary of the Italian Eni group. This plant produces the chlorine necessary for production of VCM and PVC.
However, last month Ineos said that it has become clear that the acquisition cannot take place because of problems that remain confidential.
The Syndial plant uses old mercury cell technology, and discussions about converting it to more environment-friendly membrane cell technology have been going on for years.
Syndial S.p.A.（旧 EniChem S.p.A.)
Ineos heading back into
Italian hands?
Berlusconi associate said to be
ready to make an offer.
Troubled PVC producer Ineos Vinyls Italia could be the subject of an offer from a group of Italian entrepreneurs headed by a close associate of prime minister Silvio Berlusconi.
According to investor newspaper Milano Finanza (MF) this morning, Ennio Doris, the president of on-line bank Mediolanum, has already written a letter of intent concerning a possible acquisition. However, no formal offer has yet been made.
Ineos produces PVC and vinyl chloride monomer (VCM) at Porto Marghera, near Venice.
Mediolanum is partly owned by Fininvest, which is run by the Berlusconi family. The Italian prime minister currently plays no active part in its management.
Rumours have been rife in the Italian media for several months about a possible pull-out from Italy by Ineos. Plans by the company to rationalise its Porto Marghera operations have been scuppered by bureaucratic delays, financial problems and political in-fighting.
September 16 2008 dofonline.co.uk
BOC and Ineos merger refused
Competition Commission would stifle healthy competition in chlorine industry.
The Competition Commission (CC) has provisionally concluded that the anticipated acquisition by BOC Limited (BOC) of the chlorine packaging and distribution business of Ineos Chlor Limited (Ineos) could damage competition in the markets for the distribution of packaged chlorine in cylinders and in drums in the UK.
Dec 18, 2008
The Competition Commission (CC) has blocked the proposed acquisition by BOC Limited (BOC) of the packaged chlorine business and assets of Ineos Chlor Limited (Ineos Chlor). The principal use of packaged chlorine is by the UK water industry for water disinfection.
In its final report published today, the CC has concluded that the merger would result in a substantial lessening of competition in the markets for the distribution of packaged chlorine in cylinders and in drums in the UK.
March 25. 2008: BOC,
BOC announces acquisition of INEOS ChlorVinyls’ packed chlorine business
BOC, a member of the Linde Group, a leading supplier of industrial gases and packaged chemicals, announced today that it has agreed to purchase Runcorn-based INEOS ChlorVinyls’ packed chlorine business. The sale will be completed once necessary approvals from the Office of Fair Trading have been obtained. The value of the sale has not been disclosed.
The packed chlorine business is a specialist niche market which involves the packaging and delivery of chlorine liquefied gas in drums and cylinders. The main applications are water disinfection and chemical intermediate treatments. INEOS ChlorVinyls’ staff associated with the business will transfer to BOC as BOC will continue to fill cylinders at the INEOS site at Runcorn.
Germany's Vinnolit ends PVC offtake agreement with Ineos in Italy
German polyvinyl chloride
producer Vinnolit has ended an off-take agreement with Ineos
ChlorVinyls to distribute material from its Porto Torres plant in
Italy.
Vinnolit entered into the agreement, which was for the entire PVC
output of the 65,000 mt/year Porto Torres plant in June 2007 when it acquired the paste PVC business
of Ineos ChlorVinyls. This acquisition included paste
PVC production facilities at Hillhouse, UK and Schkopau, Germany.
INEOS ChlorVinyls はエマルジョンPVC事業をVinnolit GmbH & Co. KG. に譲渡する契約を締結した。
英国のHillhouseとドイツのSchkopauのe-PVC工場を併せ譲渡し、イタリアのPorto Torres 工場で生産するe-PVC全量の引取り権も譲渡した。
英国のRuncorn とBarry、ドイツのWilhelmshaven とSchkopau、イタリアのPorto Marghera, Porto Torres、Ravenna 各工場のVCMとサスペンジョンPVC事業は当然維持する。
Vinnolit はヘキストとワッカーのJVであったが、2000年に投資会社のAdvent International Corporation が 買収した。
Customers of the site had
been notified of Vinnolit's decision by letter during the last
two weeks, market sources said.
Meanwhile, Ineos ChlorVinyls' future as a vinyls producer in
Italy remains unclear
with
its desire to exit resin production at Porto Marghera a talking point
in the market for some time.
Plastemart 2008/10/14
Ineos Italia to be acquired by Italian group?
It seems likely that PVC and VCM producer Ineos Italia could be
acquired by a consortium headed by Italian businessman Fiorenzo
Sartor, based in Treviso, near Venice, owns a distribution
company called Videa.
Ineos Italia has its main manufacturing plant located in Porto
Marghera, along with operations Ravenna and Sardinia. But one
problem that could hinder the inking of this deal is the long enduring
problem of chlorine supply to the Porto Marghera operations. Conventionally, Syndial- a
subsidiary of Eni, supplied the feedstock, but has discontinued
its business with Ineos due to a fall out over missed payments
and plans to modernise chlorine production. A pre condition to
the Ineos acquisition is buying Syndial's chlor-alkali
operation, and contributing 50% costs of substituting old mercury
cell technology with new, much less polluting membrane technology
to make the chlorine.
Timing unclear for potential sale of Ineos Vinyls Italia
The timing for a potential sale of polyvinyl chloride producer Ineos Vinyls Italia is uncertain, although the government's appetite for a deal to forge ahead is strong, a spokesman for the company said Wednesday.
January 7, 2009 polimerica.eu/
Italian buyer for Ineos Vinyls Italia
Safi has inked a preliminary agreement to buy Ineos VCM and PVC activities in Italy.
Fiorenzo Sartor, chairman of Italian company Safi Spa, has signed a preliminary agreement to buy all Italian vinyl chloride monomer (VCM) and PVC production operations run by Ineos Vinyls Italia - a subsidiary of UK-based multinational Ineos - in Porto Marghera, Ravenna, and Porto Torres (Sardinia).
No more details are available at the moment.
Ineos Vinyls Italia dispute plunges Italian chemical industry into crisis
The collapse in discussions over the sale of Ineos Vinyls Italia’s PVC and vinyl chloride monomer (VCM) operations to Fiorentino Sartor (Safi Spa owner)could bring a major part of the Italian petrochemicals industry to a halt. Trade unions are calling for urgent government intervention to prevent the loss of what they say could be some 5,500 jobs in the sector in the medium term.
Safi is a subsidiary of Eridania Zuccherifici Nazionale, itself a unit of Ferruzzi Agricola Finanziaria's Montedison subsidiary
Smaller divestments cut Montedison's total debt to L3.2 trillion by the end of 1997. By that time, Montedison was 32 percent owned by Compagnia di Participazioni Assicurative ed Industriali S.p.A. (Compart), the new name adopted by Ferfin in the summer of 1996 in order to sever its ties with its scandalous Ferruzzi past. As the end of the millennium approached, Montedison was now primarily in the area of agribusiness, through its 50.4 percent holding in Eridania Beghin-Say. The company's Montecatini chemicals business had been reduced, with the disposition of Montell, to Ausimont, a maker of fluorine-based chemicals and peroxides, and Antibioticos, which made chemicals used in the manufacture of pharmaceuticals. Through Edison, 61.3 percent owned by Montedison, the company continued its participation in the energy sector, specifically the production, transport, and marketing of electricity and natural gas. Another significant Montedison company was Tecnimont, an engineering firm and constructor of industrial, environmental, and infrastructure facilities worldwide. It was in these industries that Montedison was staking its future, having twice in the late 20th century neared bankruptcy.
Principal Subsidiaries: Eridania Beghin-Say S.A. (France; 50.41%); Ausimont S.p.A.; Antibioticos S.p.A.; Syremont S.p.A.; Edison S.p.A. (61.33%); Tecnimont S.p.A.; Iniziativa Edilizia S.p.A.
Manufacturing Sites
INEOS ChlorVinyls currently operates sites in the UK, Germany, Italy, Norway and Sweden.
INEOS ChlorVinyls retained its European VCM and Suspension PVC (S-PVC) businesses at Runcorn and Barry in the UK; Wilhelmshaven and Schkopau in Germany; and Porto Marghera, Porto Torres and Ravenna in Italy.
Runcorn Site, UK Barry Site, UK Newton Aycliffe Site, UK Hydro Polymers Production at Newton Aycliffe Site is split between the manufacture of S-PVC resin and PVC compounds. PVC compounds are produced at the Site by our sister company INEOS Films & Compounds. Wilhelmshaven Site (Vosplapp and Rustersiel), Germany Schkopau Site, Germany Stenungsund Site, Sweden Hydro Polymers PVC and caustic soda have been manufactured at this site for more than 40 years and it remains as the only PVC production facility in Sweden. Rafnes Site and Porsgrunn Site, Norway Hydro Polymers Our PVC plant is located on the Herøya Industrial Park in Porsgrunn, whilst our chlorine/VCM plants are located on Rafnes Industrial Site in Bamble. The two plants are situated on either side of the Frier Fjord, connected by a 3,500 meter pipeline tunnel. The PVC plant has produced PVC since 1951, whereas the production of chlorine and VCM started in 1978.
INEOS ChlorVinyls is the only PVC producer in Norway.Kerlingの生産拠点は以下の通り。（能力：千トン 若干古く、現状と異なっている可能性がある）
国 社名 塩素 ソーダ VCM e-PVC s-PVC コンパウンド ノルウエー Kerling 130 140 470 25 125 スエーデン Kerling 116 131 140 58 144 Hydro Sydplast ◎ 英国 Kerling 245 125 （JV） 中国 Suzhou Huasu Plastics 130→330 カタール Qatar Vinyl Company 300 336 279 ポルトガル CIRES 200
Ineos finally does deal with Sartor
Italian prime minister Silvio Berlusconi has announced that Ineos and Italian company Safi have signed an agreement at the Ministry for Economic Development for the sale by Ineos of its vinyl chloride monomer (VCM) and PVC production facilities in Italy to Safi, owned by Fiorenzo Sartor.
2008/10/11 telegraph.co.uk
Chemical group
Ineos to sell assets as catalyst to reduce debt burden
Ineos, the chemicals group which is one of Britain’s biggest private companies, is
considering selling assets in an effort to reduce its debt
burden.
The company, which has expanded rapidly through debt-fuelled
acquisitions, is understood to be looking at disposing of a
number of businesses in the US, according to people familiar with
its plans.
2008/11/3 Ineos Acid test for the Ineos formula
INEOS - Adapting in turbulent times.
In
response to recent media speculation, INEOS today pointed out
that it has never breached any of its banking covenants. The
company has significantly reduced its borrowings over the last
three years and has no significant debt maturing in the short
term.
INEOS has adequate liquidity. Since acquiring Innovene in 2005 it
has reduced its debt by over 1bn Pound. Cash balances at 30th
September amounted to 1.3bn Pound.
The company also operates all its businesses to be profitable at
the bottom of the chemicals cycle. However, in view of the
current economic climate and in line with many other companies,
INEOS is prioritising cash generation and reviewing its
non-essential capital expenditure programme.
INEOS has significantly improved the cost base and efficiency of
all its businesses to enable it to compete effectively in global
markets.
Nov 17, 2008 Reuters 状況
INEOS ASKS BANKERS TO WAIVE COVENANTS.
The chemical company Ineos has been hit hard by an abrupt decline in demand for plastics, and is now asking its creditors for a revision of the terms of its loans. The company has requested a waiver of two covenants worth seven billion euros that it made with a banking syndicate led by Barclays and Merrill Lynch. Ineos has been caught unawares by the global economic downturn and reports that shipments to customers are at between a third and a quarter of their normal levels. "We have seen something unprecedented", stated the company's chief executive Tom Crotty. "Our customers are closing their plant or destocking".
2008/11/10 British
Plastics & Rubber
Ineos to cut US PP capacity
Two American polypropylene lines are to be shut down by Ineos.
The bulk phase units at the Ineos Olefins & Polymers USA
Battleground Manufacturing Complex in La Porte, Texas, total around
235,000 tonnes of
homopolymer and random copolymer capacity. One line will close by
the end of this year and the other at the end of January 2009. A
majority of grades will be switched to other Ineos plants.
Ineos describes this as an optimisation of its asset base which
"coupled with our focus on new product development for our
remaining assets, demonstrates our long term commitment to
serving the polypropylene market."
2009/1/7 Reuters
Ineos committed to Norway ethylene expansion
British chemicals group Ineos said on Wednesday it was committed
to expand ethylene output in Norway and is assessing the costs of
a gas separation plant needed for a new Scandinavian gas
pipeline.
North Sea gas pipeline operator Gassco has asked Ineos, which has
been hit hard by the global credit crunch and economic downturn,
to affirm its intension to expand its petrochemicals
business in Rafnes, southern Norway, requiring more gas.
"Our long-term plan has always been to expand the cracker at
Rafnes to produce more ethylene in Norway," Tom Crotty,
chief executive of Ineos Olefins & Polymers Europe, told
Reuters.
Ineos became the owner of the petrochemicals business at Rafnes
when it acquired Norsk Hydro's polymers business in 2007 and
completed the deal in early 2008.
The planned Skanled pipeline would bring North
Sea gas and ethane to Rafnes, where a separation plant would be
built to siphon off the ethane for Ineos' cracker and send the
natural gas on to Sweden, Denmark and possibly eastern Europe.
2009/3/25 Ineos
INEOS wins LL/HDPE Technology Licence contract in India
INEOS Technologies has reached agreement with Brahmaputra
Cracker and Polymer Limited (BCPL) to license the InnoveneTM G
process for the manufacture of polyethylene in a plant to be
built at Lepetkata, District Dibrugarh, Assam in north east
India.
The plant will have a production capacity of 220,000 tonnes per
annum in a
single gas phase reactor. It will be capable of manufacturing a
wide range of LLDPE and HDPE grades suitable for use in a variety
of downstream film, rotomoulding, extrusion, raffia and injection
moulding applications. It will form part of the Assam Gas Cracker Project, a grass roots integrated
petrochemical complex being set up by BCPL. Process design of the
plant is well underway.
Peter Williams, CEO of INEOS Technologies commented: “We are delighted that InnoveneTM G
technology has been chosen for this new plant. As part of the
Assam Gas Cracker Project it will make a major contribution to
the growth of the local polymer industry and to the development
of India’s north east region.”
The Assam Gas Cracker Project has been approved by Cabinet Committee on Economic Affairs in its meeting held on 18th April, 2006 under an equity arrangement of GAIL (70%), OIL (10%), NRL (10%) and Govt. of Assam (10%) with a project cost of Rs. 5460.61 crores in which capital subsidy is Rs.2138 Crores.
A Joint Venture agreement has been signed on 18.10.2006 and the company 'Brahmaputra Cracker and Polymer Limited' was registered on 08.01.2007.
2009/3/18 Ineos
INEOS Technologies wins HDPE Technology License contract in China
INEOS Technologies has licensed its ‘Innovene S Process’
for the manufacture
of HDPE and MDPE to China Petrochemical International Company
Limited for use at Sinopec Wuhan Company in Wuhan, China.
The
300-ktpa plant
will produce a full range of Ziegler-Natta and Chrome monomodal
and bi-modal products. It is part of a major petrochemical
expansion of Sinopec’s existing refinery at Wuhan.
This is the second time that INEOS has licensed this process to
Sinopec. The Innovene S process was licensed to Sinopec Tianjin
in 2006. This license also comes shortly after the license
granted to Polimerica (a JV between Pequiven Petroquimica de
Venezuela, S.A. and Braskem S.A.) in December 2008.
Peter Williams, CEO of INEOS Technologies, commented: "The
repeat license of this process to a major company in China after
a lengthy competitive evaluation is a demonstration of the
increasing recognition of our proprietary technology in the
marketplace."
INEOS
Technologies wins first South American License Agreements for
polyolefins
TWO NEW LICENCES SOLD TO
POLIMERICA SA OF VENEZUELA
INEOS TECHNOLOGIES CEO SAYS, “THIS IS THE START OF A NEW AND
IMPORTANT RELATIONSHIP WITH POLIMERICA.”
INEOS Technologies
is pleased to announce today that it has signed two INEOS
polyethylene technology licenses with newly formed Polimérica S.A. a joint
venture between Pequiven and Braskem. These plants will form part of
Polimérica’s cracker and derivatives complex
in José, Venezuela. Start-up of the
complex is planned for 2013.
Peter Williams, INEOS Technologies CEO, says, “INEOS’ world-class polyethylene
technologies will provide Polimérica with the right mix of high
performance products required for their markets. We are excited
about embarking on this new and important relationship with them.
These licenses are also a significant milestone for INEOS as they
represent our first licenses in South America.”
The first of the
two new facilities will be a 430,000 MTA gas
phase polyethylene plant using INEOS’
Innovene PEg swing
gas phase technology to produce linear low density polyethylene
(LLDPE) and high density polyethylene (HDPE). The other will be a
400,000
MTA slurry polyethylene plant using INEOS’
Innovene PEs slurry
technology for the production of HDPE.
“The
selection of these technologies confirms the commitment of
Pequiven and Braskem to move the project forward within the
original schedule. This project will bring economic and social
benefits to Venezuela as well as presenting a strong and
competitive platform for exports to other markets”, says Xabier Santamaria, Polimérica’s General Manager. “These technologies are world-scale
and match our criteria of high productivity and safety,
operational flexibility and high energy efficiency, combined with
a minimum environmental impact.”
Ineos Vinyls Italia PVC, VCM units sale completes: minister
The sale of Ineos Vinyls Italia's PVC and VCM operations to Italian businessman Fiorenzo Sartor's company, Safi, has finally been completed after nine months of negotiations, the Italian Ministry of Economic Development said Wednesday.
19 June 2009
Government puts Vinyls Italia into administration
The Italian government yesterday (Thursday June 18) granted Vinyls Italia's request to be put into special, or controlled, administration.
The decision had originally not been expected until at least next week, but the government has come under concerted pressure from all sides to find a solution to the crisis afflicting not only the troubled PVC and vinyl chloride monomer (VCM) producer (previously Ineos Vinyls Italia), but also a good part of the national petrochemical industry.
Claudio Scajola, the minister for economic development, has nominated two expert lawyers and a chemical engineer to act as special commissars in running the debt-laden company, which local businessman Fiorenzo Sartor acquired from Ineos as recently as this April.
It will be the commissars' responsibility to keep the company running, albeit at a reduced level, and to try and put it into a shape fit enough for it to be brought back into the private sector. It is not clear yet how long the process will take.
The company has been brought down largely by a debt of some ?80m that it owes to energy and chemicals giant Eni, for the supply of ethylene and dichloroethane from its Polimeri and Syndial subsidiaries.
At a meeting in Rome on Wednesday, convened by Scajola to discuss the situation in the Italian chemicals industry, Syndial and Polimeri Europa president Piero Raffaelli reaffirmed that it was Eni's objective to exit chlorine chemistry. Eni began negotiations to transfer Syndial to Ineos Vinyls Italia several years ago, and had set a deadline of the end of this year to be rid of the company. But talks stalled over the cost of upgrading the company's technology.
Raffaelli said that efforts by Eni ? in which the Italian government is the largest single shareholder - to put its chemicals businesses in order have also been hampered by other events in the Porto Marghera area, where the main Vinyls Italia operation is located. One example he cited was the withdrawal of Dow Chemical from production of polyurethane feedstock TDI in 2006.
In late 2006, Eni and various other parties drew up a protocol intended to safeguard the chemicals industry in the region. Raffaelli said Eni has fully respected the agreement, while Ineos and Vinyls Italia had not.
Raffaelli said that if a "trustworthy" new owner could be found for Vinyls Italia, capable of restructuring its debt, Eni would continue to respect agreements it has already signed up to.
May 6,
2009 Reuters
Ineos asks for covenant waiver extension
* Ineos requests lenders to be given time to assess plan
* Business plan about to be presented to lender group
* Lender group appoints financial advisers
Ineos Group, the British chemicals group, has asked for an
extension of covenant waivers to allow a group of lenders to
review a new five-year business plan, the company said on
Wednesday.
A "sounding group" of lenders has appointed Deloitte as
accounting adviser and Houlihan Lokey as financial adviser to
assess the plan, Ineos said. The company is being advised by
Lazard & Co.
"As a result of the proposed appointment of advisers to the
sounding group, the recent delivery of the operating budget for
2009, and the imminent delivery of the group's five-year business
plan, Ineos is requesting an extension to the waiver of the
requirements to test certain financial covenants," it said.
Lenders have until May 22 to respond to the request. The waiver
would run until July 17.
Ineos forecast it would have sufficient cashflow to meet this
year's debt obligations whether or not trading conditions
improve, confirming an earlier Reuters report citing a source
with knowledge of the situation.
Ineos said it projected 2009 full-year revenues to total 15.2
billion euros ($20.24 billion) while it budgeted replacement cost
earnings before income, taxes and amortisation to be 1.1 billion
euros.
Ineos lenders agree to
covenant waiver extension
Heavily indebted British chemicals company Ineos said late on
Wednesday that lenders had approved its request for a covenant
waiver extension, giving it more time to work out a restructuring
plan.
Approval from at least two-thirds of lenders was needed to grant
the extension.
"Ineos Group Holdings Plc confirms that its request for an
extension to certain covenant waivers, to allow sufficient time
for the sounding group and its advisors to consider the company's
proposals, has been agreed," the company said in a
statement.
Ineos was Britain's biggest private company by both sales and
profit in 2008, according to The Sunday Times. The extension of
the waiver until July
means the company can continue with plans to restructure its 7.5
billion euro ($10.46 billion) debt load.
Ineos bonds have risen in the past few weeks on investor hope
that the company would avoid a major restructuring in the short
term.
Its euro bond maturing in 2016 stood at about 27 percent of face
value on Wednesday compared to about 7 percent in late April.
At the start of the year, the chemicals sector was rocked by
slumping demand for chemicals products and news that
LyondellBasell, the world's third-largest petrochemicals company,
had filed for Chapter 11.
| 2009/7/4 Vinyls Italia、"更正法"適用 Ineos Vinyls Italia は事業売却交渉が破綻し、破産の危機に面していたが、同社の破産がイタリアの経済に波及するのを恐れたイタリア政府が介入し、2009年2月、Ineos と Safi Spa の間で売買契約の調印が行われた。 しかし、その後もEni への未払いエチレン、塩素代の扱いを巡って二転三転したが、4月1日、イタリアの経済開発相が入り、最終決着したとみられた。
しかし、その後もEniと新会社Vinyls Italia の争いは続いた。Eni子会社に対するエチレン（Polimeri ）、塩素（Syndial）の未払債務は80百万ユーロにまで増えた。 Vinyls Italia は5月28日、裁判所に同社を“Controlled Administration”に置くよう申請した。これにより、政府指名の委員（commissar）の管理下で操業を続けることとなる。日本の民事再生法や米国のChapter 11に近いが、政府が経営者を指名するという点が異なる。
イタリア政府は6月18日、同社を“Controlled
Administration”に置くことを承認した。 6月17日の経済開発相との会談で、Eni側は塩素事業からの撤退がEniの目的であることを確認した。 Eni （イタリア政府が最大の単独株主）ではVinyls Italiaに信頼できる新しいオーナーが見つかれば、同社としては約束した契約は尊重するとしている。 現在の経済情勢のもとで、過去の未払代金を支払い、電解事業を買収してイオン交換膜法への転換を行うというのは、地域経済活性化の名目で国が資金を出さない限り、難しいであろう。 |
Bids for Vinyls Italia
There is still some hope of saving what remains of the PVC supply chain in Italy after the British company Ineos pulled out and businessman Firenzo Sartor gave up, leaving ex-Ineos Vinyls Italia, now Vinyls Italia, in temporary receivership.
Wednesday the three
official receivers were presented with an offer for the plants of
Vinyls Italia in Porto Marghera (CVM and PVC suspension) and
Assemini (ethylene dichloride) by a consortium of the Italian group
Bertolini,
distributor of plastic and chemical products, and Sirci Gresintex, manufacture of PVC pipe. In the
meantime, only Bertolini - under the guise of Bertolini Vinyls
and Rubber Spa - is interested in the plant in Porto Torres that
produces CVM and emulsion PVC.
But the offer by Bertolini and Sirci Gresintex does not call for
the acquisition of the assets; rather, it is a transitory
solution in the form of renting for subcontracting, which would at least allow
production of PVC in Porto Marghera to be restarted.
The commissioners must evaluate the consistency of the offers and
communicate them to the Ministry of Economic Development.
The trio of Vinyls Italia receivers apparently has two other offers in hand, covered by secrecy
agreements: an Italian one and the other form
a foreign company.
Last March, after nine months of negotiations, the Italian
VCM-PVC business of the Ineos Group was transferred to the
Italian company Safi, owned by Fiorenzo Sartor. The British group
sold Safi the entire stock package of its subsidiary, Ineos
Vinyls Italia SpA, renamed Vinyls Italia SpA, with plants in
Porto Marghera, Ravenna, and Porto Torres. In May, Fiorenzo
Sartor filed the company for liquidation, and in June the Italian
government put Vinyls Italia into special administration
("Amministrazione Straordinaria") under the control of
three commissars.
Tobias Hannemann, CEO of INEOS Oxide said,
“We are pleased to complete this strategic acquisition in the U.S. INEOS
Oxide is a leading producer in Europe and this significant step expands our
Ethylene Oxide & Derivatives business into the U.S, which is the world’s
largest market. It also complements our existing Ethanolamines production
facility in Plaquemine, Louisiana.”
“There is available land on the Bayport site for INEOS’ growth
aspiration. It is an ideal location to develop our third-party business
supporting customers to co-locate and integrate into an existing Ethylene
Oxide & Derivatives platform. We look forward to incorporating the business,
site and team of very professional and highly motivated people within the
global INEOS group.”
The Bayport EO&D business produces high-purity ethylene oxide and associated derivatives. Access to cost-advantaged feedstocks and logistics networks contributes to its excellent performance and market reputation.
Peter Vanacker, CEO of LyondellBasell said, “This divestiture of the EO&D business demonstrates progress against our company strategy and allows us to focus on further strengthening our core businesses. We are confident that the EO&D team will continue to thrive under new ownership and remain committed to collaborating closely with INEOS for a seamless transition.”
The closing of the transaction follows the completion of planned maintenance at the Bayport facility and satisfaction of regulatory and other customary closing conditions.
About INEOS Oxide
INEOS Oxide is Europe’s largest producer of ethylene and propylene based chemicals. Our strong and successful businesses focus on ethylene and propylene oxides and their derivatives, oxo-alcohols, acetate esters, and ethylidene norbornene. This extensive product portfolio plays an essential role in the day-to-day life of millions of people as the basic raw material for Agrochemicals, Construction materials, Engineering Polymers, Lubricants, Antifreeze & Automotive Brake Fluids, Pharmaceuticals & Personal Care. We manufacture our products in four different production facilities located in Europe (Belgium, France & Germany) and the USA (Louisiana). These sites are all strategically located within the main petrochemical clusters of both continents, enabling manufacturing synergies and delivering close proximity to both suppliers and customers.
