INEOS Phenol completes acquisition of Mitsui Chemicals business

On April 3, INEOS Phenol announced that it had completed the acquisition of all assets of Mitsui Phenol Singapore Co., Ltd. from Japan's Mitsui Chemicals at a total price of US$330 million.

The company, located on Jurong Island in Singapore, has annual sales of US$750 million and produces more than one million tons of products a year, including cumene, phenol, acetone, alpha-methylstyrene and bisphenol-A.

It is reported that the increase of phenol and bisphenol A assets in Jurong fits well with INEOS' existing asset portfolio and provides an important integration opportunity for INEOS' production bases in Germany, Belgium and the United States.

By entering the Asian market through this acquisition, INEOS Phenols has the ability to support the future growth plans of our global customers and, at the same time, develop new markets and customer relationships related to BPA, which will be a new product for INEOS. "

According to 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 a variety of end markets including the automotive, construction, electronics, healthcare, surgical and fiber industries. INEOS Phenol is the world's largest producer of phenol and acetone, with operating assets in Germany, Belgium and the US, supported by a dedicated research and technology center in Germany.