Ineos Oxide buys LyondellBasell Texas EO business for $700 mil to help mitigate high European costs

Ineos Oxide’s decision to buy LyondellBasell’s Bayport, Texas, ethylene oxide and derivatives business for $700 million will provide the UK-based company an opportunity mitigate negative margins seen by European ethylene glycol producers and stiff competition from cheaper feedstock producers in the US and Middle East. The Bayport site houses a 420,000 mt/year ethylene oxide plant, a 375,000 mt/year ethylene glycols… Ineos Oxide’s decision to buy LyondellBasell’s Bayport, Texas, ethylene oxide and derivatives business for $700 million will provide the UK-based company an opportunity mitigate negative margins seen by European ethylene glycol producers and stiff competition from cheaper feedstock producers in the US and Middle East. The Bayport site houses a 420,000 mt/year ethylene oxide plant, a 375,000 mt/year ethylene glycols… Read More