INEOS Acquires Innovene Chemical Plant in Indiana

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). INEOS has successfully completed the purchase of Innovene, BP’s olefins, derivatives and refining subsidiary in December of 2005, which includes ownership of polybutene and propylene plants in Whiting, Indiana. INEOS purchased the Innovene business for $9 billion, creating a petrochemical company with 68 manufacturing facilities in fourteen countries, employing approximately 15,000 people, and a combined revenue of $33 billion.

The polybutene plant, located in Whiting, Indiana, commenced operations in 1983, employs 50 people and produces 165 million pounds per year. Polybutenes enhance and improve the performance properties of a wide variety of end products, including adhesives and sealants, industrial lubricants, crack case lubricants, fuel additives and cable filling compounds.

The propylene plant is integrated with BP’s Whiting refinery. The capacity of the C3 splitting operations exceeds 400 million pounds per year, and can produce 99.5 percent pure propylene using feedstock from the refinery processes. The plant supplies sites across the U.S. with chemical feedstock used primarily in the manufacturing of plastics. A $3 to $7 million planned turnaround is scheduled for March. The scope of work includes a catalyst change, inspection of the furnace and replacement of relief valves. INEOS has decided to utilize BP’s expertise in the planning and execution of the turnaround.

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