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INEOS Phenol completes the acquisition of Mitsui Phenols Singapore

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Meenal Datar

Membership specialist

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.’

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