Ineos Phenol Successfully Completes Acquisition of Mitsui Phenols Singapore

330 Million Dollar Deal Ineos Phenol Successfully Completes Acquisition of Mitsui Phenols Singapore

2023-04-05 Source: Press release Ahlam Rais 1 min Reading Time

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Mitsui Chemicals’ Mitsui Phenols Singapore has been taken over by Ineos Phenol as its assets are in line with the company’s existing asset portfolio. The deal also provides integration opportunities with Ineos’ manufacturing sites in Germany, Belgium and the U.S.

The deal allows Ineos to support its global customers more effectively, developing new markets and relationships in Asia.(Source: Pixabay) — The deal allows Ineos to support its global customers more effectively, developing new markets and relationships in Asia.
(Source: Pixabay)

London/UK – Ineos Phenol has completed the acquisition of the entire asset base of Mitsui Phenols Singapore from Mitsui Chemicals for a total consideration of 330 million dollars. The business has a turnover of 750 million dollars 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). 120 employees will now become part of Ineos Phenol.

The addition of the Jurong phenol and BPA assets provide a good fit with our existing asset portfolio and expertise of Ineos Phenol and presents significant integration opportunities with Ineos’ manufacturing sites in Germany, Belgium and the United States.

“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,” said Gordon Adams, Business Director Ineos Phenol.

Phenol, acetone, alpha-methyl styrene and BPA are used in the production of polycarbonate, plastics, phenolic resins, synthetic fibres and solvents. These products are used in a diverse range of end markets, including the automotive, construction, electronics, healthcare, surgical and fibre industries.

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