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UK-based INEOS is planning on increasing the capacity of its Mobile, Alabama (US) facility. The Mobile facility will see an overall capacity expansion up to 850,000 tpa, making it the largest phenol production unit in the world. The British firm is the largest manufacturer of Phenol and Acetone in the world. It is also the only Phenol and Acetone producer with production facilities spanning across Europe and America.
Mississippi-based Ergon Chemicals has acquired thermoplastic resins and polymer manufacturer, Resinall and its subsidiaries. The acquisition is in line with Ergon’s commitment to becoming a leader in the refining and marketing of specialty products. Resinall tends to customers of adhesive, tire, ink, and specialty markets around the world. KeyBanc provided Resinall with exclusive sell-side advice on the transaction.
BP has announced that it will raise acetic acid prices in US and Canada this July. This move comes after a force majeure recently declared by BP in April. It ascribed the increment as “necessary due to continued high raw material costs and increasing logistics costs”. BP trades acetic acid produced by the Eastman Chemical plant in Texas City under an agreement which extends till December 2031.