Producer of phenol and acetone, INEOS Phenol has announced the acquisition of the Japanese chemicals manufacturer, Mitsui Phenols Singapore from Mitsui Chemicals is complete. The cost of the acquisition was a $330 million (€302 million).
The business has a turnover of $750 million (€688 million) and produces over 1 million tonnes of product each year, including cumene (410 ktpa), phenol (310 ktpa), acetone (185 ktpa) alpha-methylstyrene (20 ktpa) and bisphenol A (150 ktpa).
Gordon Adams, business director of INEOS Phenol says: ‘Entering the Asian market via this acquisition gives INEOS Phenol a unique capability to support our global customers’ plans for future growth whilst at the same time we look forward to developing new markets and customer relationships associated with bisphenol A which will be a new product for INEOS.’
