BP and Ineos Launch Hydrogen Projects
BP and Ineos have separately launched clean hydrogen projects as moves toward cutting carbon emissions and meeting the zero carbon emissions targets set by the UN and national governments.
Ineos
Ineos Buys Renewable Electricity for Belgian Site
Olefins and polyolfins giant Ineos has signed an agreement to buy electricity from Belgian utility Engie’s Norther offshore wind farm in Belgium over a 10-year period. The contract is the largest ever-purchase contract of wind energy for heavy industry in Belgium, the Swiss-headquartered group said.
Ineos Launches Healthcare Business
After declaring in May that it would set up a global healthcare business, petrochemicals giant Ineos launched Ineos Hygienics on Jul. 30. The move was triggered by the outbreak of Covid-19 and the subsequent pandemic, which led demand for sanitizers to soar. Ineos responded by rapidly building six hand sanitizer plants in the UK, USA, Germany and France.
Ineos Launches €3.58 Billion Loan Refinancing
Ineos has launched a €3.6 billion leveraged loan – split between euros and US dollars – to refinance existing debt and reduce its term loan margins. Barclays, Citi and JP Morgan are global coordinators, alongside joint book runners BMO, Credit Suisse, Deutsche Bank, ING and Lloyds.
Ineos May Move Grenadier Build to France
Ineos has announced it may build its 4x4 off-roader in France, suspending existing plans to build it in Wales and Portugal. The Swiss-headquartered group is now in talks with Mercedes-Benz about acquiring the major German carmaker’s site at Hambach, France, describing the site in was “ideally suited” to the Grenadier.
Top Management Changes at Ineos Styrolution
Steve Harrington, currently president Global Styrene Monomer and Asia-Pacific at Ineos Styrolution, has been appointed as the Germany-based styrenics manufacturer’s new CEO, succeeding Kevin McQuade, who has been named chairman of the company’s supervisory board.
Ineos to Buy BP’s Petchems Business for $5 Billion
Ineos is buying BP’s global petrochemicals business for $5 billion (£4 billion) in what is being touted as the biggest deal since the coronavirus pandemic began circling the globe in winter and early spring this year.
Ineos Adds US Sanitizer Plants, Plans Hygiene Business
Ineos will build two hand sanitizer plants in the US, adding to the facilities it has already constructed in the UK, Germany and France.
Ineos Pursues Chemical Recycling With Plastic Energy
Ineos has joined forces with Plastic Energy to help promote and employ chemical recycling.
Ineos Delays Forties Pipeline Shutdown
Due to the coronavirus crisis, Ineos has postponed the planned annual maintenance shutdown of its UK North Sea Forties Pipeline for almost a year, to assure its chemical feedstock customers of sufficient supply amid British government virus containment restrictions.
Ineos Replaces PwC with Deloitte
Olefins and polyolefins giant Ineos is switching auditors after a breakdown in communication between long-term partner PriceWaterhouseCoopers (PwC), which has audited the chemical group since its 1998 creation, and Ineos chairman and controlling 60% shareholder Jim Ratcliffe.
