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HomeBusinessSir Jim Ratcliffe's Ineos buying fellow chemicals firm in Singapore

Sir Jim Ratcliffe's Ineos buying fellow chemicals firm in Singapore


UK billionaire Sir Jim Ratcliffe’s company Ineos buying fellow chemicals firm in Singapore for £280m, taking it further into Asia

UK billionaire Sir Jim Ratcliffe’s company Ineos is buying a fellow chemicals firm in Singapore for £280m, taking it further into Asia. 

Ineos Phenol will buy Mitsui Phenols Singapore from Mitsui Chemicals of Japan, in a deal that will add more than 1m tons of production capacity for compounds that are used to make materials for plastics, synthetic fibres and solvents. 

Mitsui Phenols Singapore has a turnover of £638m and employs 120 people. 

On a spree: Sir Jim Ratcliffe, worth almost £10billion according to Forbes, has built a global empire from building up unwanted chemicals businesses from giants such as ICI

On a spree: Sir Jim Ratcliffe, worth almost £10billion according to Forbes, has built a global empire from building up unwanted chemicals businesses from giants such as ICI

Ratcliffe, worth almost £10billion according to Forbes, has built a global empire from building up unwanted chemicals businesses from giants such as ICI. 

Most recently Ineos bought BP’s petrochemicals business for £4.2billion in 2020. 

Two weeks ago Ratcliffe was linked with a very different acquisition – a stake in Manchester United. He has stated he is interested in buying the football club.

Ineos already has a one-third stake in a Formula 1 motor racing team and an involvement with New Zealand’s rugby union team, among other sports interests.

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