Ineos
INEOS Group Holdings PLC is a group of chemical companies privately owned with headquarters in Rolle, Switzerland ( Vaud).
As a result of a management buy -out of former petrochemical holdings of BP in Antwerp ( Belgium), the group was founded in 1998, formed under the leadership of Jim Ratcliffe, the current Chairman of the Board and since then expanded greatly by acquiring other businesses.
History
Some of the production previously belonged to Amoco, BASF, BP, Dow Chemical, ICI, phenolic chemistry, Solvay, UCB and Union Carbide. 1998 saw the establishment of Ineos and the acquisition of the ethylene derivatives business by Inspec in Antwerp. Following a presentation of the 2001 results, the name of INEOS INSPEC Ethylene Oxide and Specialities, however, another explanation was known in 2013.
2000 was the establishment of a phenol / acetone plant in Alabama, USA.
2001 INEOS acquired Crosfield and trades as INEOS Silicas. In the same year the company acquired the chlorine chemicals business of ICI, which operates under the name INEOS Chlor, ICI Klea, which operates under the name INEOS Fluor, the global ethanolamines business of Dow Chemical, the majority of shares of EVC ( joint venture EniChem and ICI ) and Phenolchemie, Gladbeck, which trades as Ineos phenol.
INEOS acquired in 2003 Methanova Mainz, which is now known as Ineos ParaForm. 2004 EVC Films was founded as a separate business. 2005 was the formation of INEOS Enterprises Ltd.. The EVC is completely taken over by Ineos, which leads to the reorganization of INEOS Chlor. This results in two new companies: INEOS Chlor Vinyls and INEOS Films and Compounds. INEOS Films acquired "Adria Plast " and " Caleppiovinil " in Italy.
Also in 2005, the Canadian polystyrene business of BASF was bought and founded Styrenics. Through the acquisition of UCB - melamine resin operation in Fechenheim (formerly Cassella ) was added a global melamine resin and additives business with production facilities in Frankfurt am Main and Springfield (USA). This synergy with Ineos ParaForm in Mainz and Ineos Melamines should be created in Fechenheim.
INEOS bought in 2005 Innovene, BP's olefins and derivatives ( O & D) division, with the refineries in Lavera (France) and Grangemouth (Scotland ) and a chemical site in Cologne- Worringen ( Germany ), originally once EC Erdölchemie said. With an estimated annual turnover of U.S. $ 25 billion ( 2005), which brought Innovene, at a cost of $ 9 billion, the former Ineos sales of approximately $ 8 billion quadrupled ( 2004). The number of persons employed doubled. Ineos was with this acquisition, the third largest independent petrochemical companies in the world.
In June 2007, Lanxess brought its Spanish subsidiary Lustran (Tarragona ) in a joint venture with the British chemicals group. The exit of Lanxess is carried out in two steps: First, Lanxess founded a joint venture with Ineos, which took over 51 % of the shares of Lustran Polymers, INEOS ABS. According to the company, INEOS paid in September 2007, about 35 million euros, with the first payment of the purchase price in two steps. To finance this acquisition, Ineos sold its PVC paste area with locations in Schkopau and Hillhouse (UK ) at the German PVC producer Vinnolit ( Advent International).
2008/2009, the Group came as a result of the economic crisis in financial distress. The Group was restructured after negotiations with the creditors ( a consortium of several banks ) and funded with different terms. The management announced then that the financial position of the group was safe and also guaranteed by the banks again.
CEO Jim Ratcliffe and Finance
The personal property of Jim Ratcliffe is estimated in 2006 to 1 billion British pounds. Ineos made a profit of about 1 billion British pounds ( 2005) annually. To finance the acquisitions, the company makes use of so-called junk bonds.
Globalization
The company has (as of 2013) over 51 production sites in 11 countries. It is in 15 business units ( " Work " ) split: INEOS ABS, INEOS Barex, INEOS Bio, INEOS Chlor Vinyls, INEOS Enterprises, INEOS Melamines, INEOS Olefins & Polymers Europe, INEOS Olefins & Polymers USA, INEOS oligomer, INEOS Oxide, Ineos ParaForm, INEOS Phenol, INEOS Styrenics and Ineos Technologies.