Ineos Phenol to permanently close German site

Gladbeck, Germany – The world's largest producer of phenol and acetone Ineos Phenol has announced its intention to permanently stop production at its site in Gladbeck, at a date to be confirmed.

“Sky high European energy costs alongside Europe’s punitive CO2 tax policy have combined to leave Europe uncompetitive against imported Chinese production and a global oversupply” Ineos said 17 June.

Europe’s lack of competitiveness, it added, has already led to the exit of several downstream consumers of phenol and acetone to such an extent that local demand no longer supports the operation of the Gladbeck site.

Ineos chairman Sir Jim Ratcliffe further enphasised: “This is the consequence of Europe’s total lack of energy competitiveness and the blind devotion to carbon taxation which is leading to a mass de-industrialisation across the continent.

“Gladbeck is not the first and will definitely not be the last unless the regulators wake up and take action.”