Recently, INEOS announced that INEOS Phenol has completed the acquisition of all assets of Mitsui Phenol Singapore Co., Ltd. from Mitsui Chemicals, a leading Japanese chemical manufacturer, for a total price of US$330 million.
The turnover of this business is USD 750 million, and the annual output of products exceeds 1 million tons, including cumene (410,000 tons/year), phenol (310,000 tons/year), acetone (1.85 million tons/year), α- Methyl styrene (200,000 tons/year) and bisphenol A (1.5 million tons/year). 120 employees will now join INEOS Phenol.
Gordon, Business Director, INEOS Phenol Adams said: "The phenol and BPA assets at the Jurong facility in Singapore fit well with our existing asset portfolio and INEOS Phenol's expertise and provide a significant integration of INEOS' production sites in Germany, Belgium and the US Chance."
"Entering the Asian market through this acquisition uniquely positions INEOS Phenols to support the future growth plans of our global customers, while we look forward to developing new markets and customer relationships related to BPA, which will become A new product from INEOS.”
Phenol, acetone, alpha-methylstyrene, and bisphenol A are used in the production of polycarbonates, plastics, phenolic resins, synthetic fibers, and solvents. These products are used in various end markets including automotive, construction, electronics, healthcare, medical surgical and fiber industries.
INEOS Phenol is the largest producer of phenol and acetone, with operating assets in Germany, Belgium and the US, supported by a dedicated technology and research center in Germany.
