20.07.2015 • NewsCepsaJim RatcliffeJim Ratcliffe Ineos

Ineos Close to Dispute Settlement with Sinopec

Ineos is close to reaching a settlement of its intellectual property complaint against Chinese state-owned chemical giant Sinopec, Jim Ratcliffe, chairman of the petrochemicals giant has told journalists.

The Swiss-based group had threatened to take Sinopec to court, alleging that Sinopec had built a new acrylonitrile plant using its technology without a licensing agreement.

Ineos and Sinopec are nearing the settlement “based on a thorough discussion of the subject, based on a good relationship, a good understanding,” Ratcliffe said.

Ineos also had put a planned phenol plant in Nanjing – a joint venture with Sinopec – on hold because of the dispute. Subsequently, however, Ineos’ European rival Cepsa of Spain (the two companies are world’s largest producers of plastic ingredient phenol) inaugurated its own $300 million plant in eastern China.

Innovation Pitch

The Start-up Platform for Chemistry & Life Sciences
Discover Tomorrow’s Innovators

The Start-up Platform for Chemistry & Life Sciences

CHEManager Innovation Pitch supports innovation in the chemistry and life sciences start-up scene. The platform allows founders, young entrepreneurs, and start-ups to present their companies to the industry.

CHEManager Spotlight

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics
Creating Interfaces

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics

CHEManager Spotlight is an exclusive event tailored for practitioners and decision-makers in the chemical industry. This part of our event series delves into the latest trends and innovations in logistics to streamline your operations and drive efficiency.