INEOS Phenol closes Gladbeck site in Germany
Published by Oliver Kleinschmidt,
Assistant Editor
Hydrocarbon Engineering,
INEOS Phenol, one of the world's largest producers of phenol and acetone, has announced its intention to permanently stop production at their site in Gladbeck, Germany.
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.
After carrying out a detailed strategic review, the business intends to permanently exit the Gladbeck site at a date to be confirmed. Europe’s lack of competitiveness 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 which dates from 1954 and requires significant future investment.
Commenting, Sir Jim Ratcliffe, Chairman of INEOS, said: “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 deindustrialisation across the continent. Gladbeck is not the first and will definitely not be the last unless the regulators wake up and take action.”
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/19062025/ineos-phenol-closes-gladbeck-site-in-germany/
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