Ineos Buys More BP Businesses

Privately held chemical maker Ineos has agreed to buy BP's vinyl acetate and ethyl acetate businesses. The deal includes 500,000 metric tons per year of capacity at BP's site near Hull, England, and a related ethylene pipeline. "The addition of these facilities broadens the Ineos portfolio of oxygenated solvents, optimizes existing links with our Grangemouth site, and helps us to meet the growing demand for both products," Ineos Chairman James A. Ratcliffe says. BP says the sale will allow it to focus on the acetic acid and acetic anhydride businesses at the site. Ineos got its start through acquisition of several other BP businesses; today it is one of the world's largest chemical companies.