INEOS Phenol Acquires Mitsui Phenols Singapore Assets
- INEOS acquired Mitsui Phenols Singapore for $330 million.
- The acquisition adds over 1 million tonnes of annual capacity.
- Key products include cumene, phenol, acetone, alpha-methylstyrene, and bisphenol A.
- 120 employees will join INEOS Phenol.
Acquisition Details
INEOS Phenol has completed the acquisition of Mitsui Phenols Singapore Ltd from Mitsui Chemicals for $330 million. This acquisition includes the entire asset base on Jurong Island, Singapore.
Capacity and Production
The deal adds over 1 million tonnes of production capacity annually, including 410 ktpa of cumene, 310 ktpa of phenol, 185 ktpa of acetone, 20 ktpa of alpha-methylstyrene, and 150 ktpa of bisphenol A.
Strategic Fit
The acquisition complements INEOS Phenol's existing operations in the USA, Belgium, and Germany, providing significant integration opportunities with these sites.
Workforce and Market Expansion
120 employees from Mitsui Phenols Singapore will join INEOS Phenol. The acquisition supports INEOS's strategy to expand in Asia and develop new markets and customer relationships, particularly for bisphenol A.
Applications
Products from the acquired assets are used in polycarbonate, plastics, phenolic resins, synthetic fibers, and solvents, serving industries such as automotive, construction, electronics, healthcare, and fibers.
Source: INEOS