INEOS outlines its Humber plans to members at Chamber’s AGM as business group opts for continuity during Covid pandemic

The screen grab shows the Chamber team and Richard Longden, from INEOS (centre) during the AGM which was held on online for the first time.

CHAMBER President Phil Jones (right) and Vice President Mike Whitehead have both been re-elected for a second term of office at the Hull & Humber Chamber of Commerce’s AGM.

With the world in the middle of the coronavirus pandemic, the Chamber chose continuity with steady hands on the tiller, rather than a change to its leadership this year.

The guest speaker at the AGM was Richard Longden, Head of Communications for INEOS Group, who outlined the chemical giant’s plans for BP’s global Aromatics and Acetyls businesses at Saltend which it recently acquired in a $5-billion deal.

Richard said INEOS is the biggest company most people have never heard of, but the acquisition of the BP site is a key piece of the jigsaw in its chemical set.

High profile sponsorships of a Tour de France winning cycling team, competing in the Americas Cup under the INEOS Team UK banner, and taking part ownership of the Mercedes AMG Petronas Formula One team, are all ensuring the brand is becoming more recognisable across the globe.

He said the acquisition of the former BP site was a logical development of their existing petrochemicals businesses around the world and was the missing piece of their chess set.

Richard said INEOS is already one of the world’s leading petrochemical companies and this acquisition will extend both the portfolio and the geographic reach of the business.

Overall, the business consists of 15 sites across the world (5 in the Americas, 2 in Europe and 8 in Asia) as well as 10 leading joint ventures.

“The deal is a very good fit with our existing asset base, expanding the existing INEOS footprint, reintegrating our sites at Hull in the UK, Geel, close to Antwerp in Belgium and Texas City in the USA,” he explained.

“All 1,700 people will transfer as the businesses become part of INEOS.  Some roles will be brought back to Hull from Budapest and Asia and around 330 people will join the business, many at our site in Hull, which means INEOS will now employ more than 4,500 people in full time skilled roles across its sites in the UK. Around 200 contractors will also benefit from the Humber deal”.  

Talking about his re-election as Chamber President Phil Jones said: “The last year had been challenging and tough, but we have embraced technology which has allowed us to continue to operate.

“Ian Kelly and his team have done an exceptional job this year and I have enjoyed hosting webinars on carbon capture which will improve our region which is at the core of that initiative”.

Chamber Chief Executive, Dr Ian Kelly, said it had been one of the most extraordinary years since the Spanish Flu outbreak in 1917, but he and his team were grateful to Phil and Mike as the President and Vice President for steering us through so well.

Vice President Mike Whitehead said: “The Chamber had adapted well to the challenges, and so had business, and he was looking forward to exciting times for the Humber and it was a great time to be in business”.

Mike also thanked Richard Longden for his excellent presentation to members, noting that he looked forward to INEOS playing an active role in the Energy Estuary.

“It fantastic to have a world class company like INEOS here in the Humber and being part of the Chamber,” he added.