Ineos to restart production in Antwerp in 2027 following Gladbeck closure

Ineos Phenol will not restart production at its Antwerp production plant until 2027, a company spokesperson told Platts June 18.

This follows the decision to permanently close the Gladbeck production site in Germany after what the company described as an "extraordinary works council meeting" June 17.

Ineos' European phenol operations have been facing difficult market conditions for some time.

The spokesperson reiterated that high energy costs and CO2 taxes had eroded Europe's competitiveness compared with players in other regions.

"There is global oversupply coupled with weak global demand, which is further negatively impacted by tariff policies in the US," the spokesperson said. "We are also faced with customers discontinuing their activities in Europe, causing demand to fall further."

As a result, the company said it had been forced to rationalize its production volumes in line with current demand levels.

Ineos' Antwerp site offers a newer plant equipped with the latest technologies, which the company says presents the best option for a sustainable future. The site also poses logistical advantages due to its deepsea access.

Taking into account the phaseout period for the German site, the aim is to restart production in Antwerp in the course of 2027.

Platts, part of S&P Global Energy, last assessed the free delivered Northwest Europe acetone spot price at Eur620/mt June 17, down Eur10/mt week over week, and the phenol premium over benzene at Eur100/m FD NWE.