$330 million! INEOS acquires Mitsui Phenol Singapore
Latest News: On August 26, INEOS announced that it will acquire all the assets of Mitsui Phenol Co., Ltd., located in Jurong Island, Singapore, from Mitsui Chemicals, a leading Japanese chemical manufacturer, for a total price of $330 million. The transaction is subject to regulatory approval and is currently expected to close in the first quarter of 2023.
The acquisition can add nearly one million tons of production capacity
Jurong Island, Singapore, the enterprise has a turnover of US$750 million and produces more than 1 million tons of products per year, including cumene (410,000 tons/year), phenol (310,000 tons/year), acetone (185,000 tons/year) ), α-methylstyrene (20,000 tons/year) and bisphenol A (150,000 tons/year).
The addition of Jurong Phenol and Bisphenol A assets fits well with INEOS’ existing portfolio and provides significant integration opportunities for INEOS’ production sites in Germany, Belgium and the United States.
Gordon, Business Director, INEOS Phenol
Adams said: “Entering the Asian market through this acquisition gives INEOS Phenol a unique ability to support the future growth plans of our global customers, while we look forward to developing new markets and customer relationships related to Bisphenol A, which will be the A new product from INEOS.