Ineos Halts Production at All Hull Acetyls Plants
At a glance
- Ineos paused operations at three chemical plants in Hull.
- About 1,000 employees are directly affected at the sites.
- Plants support nearly 4,000 skilled jobs, including apprenticeships.
Ineos has stopped production at all three of its acetyls plants in Hull, marking a notable development for the chemical industry in the region. The company stated that this action affects a large workforce and is linked to energy price differences between Europe and other markets.
According to Ineos, two of the Hull facilities had already ceased operations before the announcement, with the third scheduled to come offline in the days following the statement. The company described the plants as world-scale units and highlighted their operational efficiency.
Ineos said that the three Hull plants together support almost 4,000 skilled jobs, including apprenticeships. Of these, around 1,000 employees are directly employed at the sites, with an additional impact on approximately 3,000 skilled jobs in the wider Humberside area.
Sir Jim Ratcliffe, who serves as chairman of Ineos, stated that European gas prices are currently twelve times higher than those in the United States. He also said that these prices are eight times higher than those for coal-based chemical production in China.
What the numbers show
- Three Hull acetyls plants have been idled by Ineos.
- About 1,000 direct jobs and 3,000 additional skilled roles are affected.
- European gas prices are twelve times higher than in the US, according to Ineos.
The company described the Hull plants as among the most efficient globally, stating that they operate at the lowest possible level of carbon dioxide emissions. Ineos said that the material produced at these sites has half the carbon footprint of similar products made in the United States and one-eighth the footprint of Chinese-made product.
Ineos attributed the decision to halt production to the high cost of energy in Europe compared to other regions. The company highlighted the competitive disadvantage created by these energy price differences in its official communications.
The pause in operations at the Hull facilities follows a sequence in which two plants had already stopped production, with the third plant scheduled to follow shortly after the announcement. The company’s statements focused on the operational and environmental characteristics of the sites as well as the impact on jobs.
* This article is based on publicly available information at the time of writing.