Ineos is to rename and restructure the Innovene business

Ineos is to rename and restructure the Innovene business it acquired from BP last year. The UK chemicals major has formed seven new business units to integrate the $18bn (E15bn) turnover company.

Ineos Polyolefins will include all Innovene’s PE and PP operations in Europe and Asia, and the Solutions business. Across the other side of the Atlantic, Ineos Olefins & Polymers will hold all of Innovene’s existing North American Olefins, PE and PP business activities, including pipeline and terminal operations and the Hobbs NGL Fractionator as well as manufacturing sites Carson, Chocolate Bayou and Battleground. Styrene operations move to Ineos Styrenics.

Grangemouth and Lavйra’s refinery operations come under Ineos Refining, while their olefins activities – along with Kцln, the Saudi Delta Project and Ineos Wilhelmshaven Project – will become Ineos Olefins. The three other units are Ineos Nitriles, Ineos Technologies and Ineos Oligomers.