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BP to divest global aromatics and acetyls businesses

 Last Update: 2022-08-26
 Source: Internet
 Author: User

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INEOS Announces Completion of the $5 Billion Acquisition of bp's Global Aromatics and Acetyls Businesses

The acquisition includes 15 plants worldwide (including 5 in the Americas, 2 in Europe and 8 in Asia ), 10 of which are leading joint ventures .

INEOS has acquired a range of world-class assets and has experienced people and teams
.

Sir Jim Ratcliffe , founder and chairman of INEOS , said: "We are delighted to acquire these top-tier businesses from bp , which will enhance our position in the global petrochemicals sector and provide broad scope for expansion and integration of our existing businesses
.

INEOS, one of the world's largest manufacturing companies, has today completed the $ 5 billion acquisition of bp 's global aromatics and acetyls businesses
.

INEOS Aromatics is a global technology leader in purified terephthalic acid ( PTA ) and its precursor paraxylene ( PX ), with 6 production sites and a global polyester business, including polyester fibers, films and PET packaging products .

INEOS Acetyl has 9 production bases producing derivatives such as acetic acid and acetic anhydride, providing a wide range of services to downstream industries such as food, pharmaceuticals, paints, adhesives and packaging
.

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