INEOS is to buy BP’s global aromatics and acetyls business for $5 billion. The business consists of 15 sites across the world (five in the Americas, two in Europe and eight in Asia), as well as ten leading joint ventures.

Sir Jim Ratcliffe, founder and chairman of INEOS, said: “We 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.”

He added: “This 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.”

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29th June 2020