Ineos plans closure of HDPE plant

15 January 2007 – Ineos has made an internal announcement saying it is to close its HDPE plant in Grangemouth, UK, at the end of the year.

“Given the current business environment and plant economics, it is proposed that unless anything significant changes the Innovene 2 HDPE plant will close at the end of 2007,” a spokesperson told PRW.com today.

No redundancies are planned, the spokesperson said, and all of the employees, which number approximately 35, will be redeployed if the plant is closed.

Privately-owned Ineos agreed to pay $9bn (€7.4bn) for BP’s Innovene refining, petrochemical and polymers arm in 2005. Plants included the Grangemouth complex in Scotland, the Geel PP unit in Belgium and a number of sites in the US.