Ineos suspends production at three Hull plants over gas costs
1Sep 22 · 1d ago · 2 articles · 2 posts · 3 sources · development 1 of 2
Sir Jim Ratcliffe's chemical manufacturing firm Ineos announced the mothballing of three facilities in Humberside that produce acetic acid, acetic anhydride, and ethyl acetate—raw materials used in pharmaceuticals, cosmetics, detergents, and military explosives. The company cited UK natural gas prices at twelve times the US level and eight times Chinese equivalents as the driver.
bbc.co.uk
“We are being forced to mothball some of the most efficient plants in Europe, but with gas prices now 12 times the level in the US and 8 times that of China, we just cannot compete.”
Sir Jim Ratcliffe Ineos owner and billionaire industrialistIneos Chemical manufacturing firmUK Department for Business, Innovation, Science and Trade Government oversight