Ineos
INEOS UK is a chemicals company and the owner of the Grangemouth refinery. It is part of the INEOS Group, a privately owned multinational chemicals company headquartered in Rolle, Switzerland, with its registered office in Lyndhurst, United Kingdom. INEOS Group is the fourth largest chemicals company in the world measured by revenues (after BASF, Dow Chemical and LyondellBasell), and the largest privately owned company in the UK. Jim Ratcliffe is the founder, Chairman and main shareholder.
It employs over 15,000 employees at 51 manufacturing plants in 11 countries. In 2013 the Ineos Group's turnover was £43 billion.
Sometimes described as 'the biggest company you've never heard of', Ineos has more than 80 separate firms registered at the UK Companies House. [1]
Contents
Stance on shale gas
INEOS' website has a lengthy article outlining its views on Europe's 'dithering' over shale gas exploration and production.
- INEOS has decided it cannot wait, and has struck a deal with the US to bring US raw materials to its European plants to maintain a competitive global Olefins & Polymers business. From 2015 INEOS Olefins & Polymers in Norway will begin taking ‘shipments of US-derived ethane – an essential ingredient necessary to produce ethylene.
INEOS warned in a report to the House of Lords EU sub-committee 'that rising energy costs threaten to undermine the ability of manufacturers in the EU to compete on the world stage'. Chemical industries that rely heavily on fossil fuels to run its plants were 'particularly at risk' it said.
- 'We are acutely vulnerable to fluctuations in energy prices,' said Tom Crotty. INEOS Group Director. 'We sell our products in fiercely competitive international markets and cannot pass on costs to our customers. But we cannot afford to operate in jurisdictions with uncompetitive energy prices.'
INEOS believes that Europe 'should shield energy-hungry industries from steep price rises' while it moves towards creating affordable low-carbon energy sources.
- 'If it doesn’t, production will be forced out of Europe to more competitive locations which will mean the loss of jobs, investment and tax revenue,' he said. Decarbonisation should not mean deindustrialisation, said Tom. 'The aim must be to connect industry to green energy supplies, not push industry away,” he added. He said energy-intensive industries were not ‘sunset industries’ standing in the way of environmental improvements. 'They are actually a vital source of raw materials and innovations required to make the green economy a reality,' he said.
Meetings with UK government
Legal action against Chinese companies over misuse of trade secrets
In March 2014 Ineos announced it was taking legal action against a number of Sinopec and Sinopec subsidiaries (SNEC, Anqing and others) for breach of contract and/or misuse of trade secrets.
- INEOS says that Sinopec Ningbo Engineering Company has broken a long established technology agreement which, together with trade secret misuse by other Sinopec companies, has enabled development of a series of new world scale Acrylonitrile plants without INEOS agreement or consent. INEOS, which has otherwise excellent relationships with Sinopec and with China, has no choice other than to protect its intellectual property. INEOS fears that these breaches of rights will cause major harm to its Acrylonitrile business which generates up to $500m per annum of profit and has a replacement value of $3 billion. It supports around 5,000 direct and indirect jobs in the USA and Europe. [2]
Affiliations
- All Party Parliamentary Group on Unconventional Oil and Gas - Ineos is an associate member and contributed £10,000, which was registered June 2013
- Parliamentary and Scientific Committee (an Associate Parliamentary Group)
People
- Jim Ratcliffe - founder and chairman
- Tom Crotty - INEOS group and external affairs director
- Senior account director Andrew McLachlan
Lobbying and PR firms
- Media Zoo’s UK media relations and reputation management brief includes communicating with trade organisations and governments in the US and Germany, which are key markets for Ineos. [3]
- Edelman [4]
Resources
- Letter regarding FOI request on INEOS introductory meeting with DECC Permanent Secretary June 2013, Office for Unconventional Gas and Oil (OUGO), dated 27 January 2014, acc 5 May 2014
- Letter to the Editor Ineos, tax and China, The Guardian, Monday 21 October 2013 21.00 BST
- Nick Mathiason, Ineos tax deal sparks fury as firm plans move to Switzerland, theguardian.com, Thursday 4 March 2010 21.05 GMT
Contact
- Website:
Resources
- US shale gas plan to make Grangemouth profitable, The Telegraph, 2 September 2013
Notes
- ↑ Nick Mathiason, Ineos tax deal sparks fury as firm plans move to Switzerland, theguardian.com, Thursday 4 March 2010 21.05 GMT
- ↑ INEOS announces legal action against Sinopec and Sinopec subsidiaries, 21 March 2014, acc 5 May 2014
- ↑ Glen Munro, Grangemouth owner Ineos awards corporate work to Media Zoo, prweek.com, 21 January 2014
- ↑ PRCA Public Affairs Register: Consultancies – March to May 2013
