Ineos
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| Ineos | |
 |
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| Type | Private |
|---|---|
| Founded | 1997 |
| Headquarters | Lyndhurst, UK. |
| Key people | Jim Ratcliffe, CEO & Chairman |
| Products | Petrochemicals |
| Revenue | $33 billion |
| Website | www.ineos.com |
Ineos is a privately owned British chemicals company. Its headquarters are located in the small village of Lyndhurst in Hampshire, England. It was formed in 1997 to effect a management buy out of the former BP petrochemicals assets in Antwerp, Belgium. Since then, it has since expanded by purchasing several other businesses. Several of its divisions formerly belonged to Amoco, BASF, BP, ICI, Dow Chemical, Solvay and UCB. In October 2005 it agreed to purchase Innovene, BP’s olefins and derivatives and refining subsidiary, which has an estimated 2005 turnover of $25 billion, for $9 billion. The deal, which was completed on 16 December 2005, roughly quadrupled Ineos's turnover, which was previously around $8 billion.
Ineos reportedly prefers to run operations with minimal on-site management, the concept that "work teams" are better suited for handling of the workflow day to day, without middle-management, or other hierarchy, needlessly delegating mundane, non-essential to profitability tasks. It is widely known as an "employee friendly" company with a great deal of respect for those who are the "hands on" people that are closest to the work and are intimately involved in what is making the company money. A customer-focused philosophy is prevalent at all of its manufacturing facilities and they demand that people focus on what really matters, not politics. Safety, quality, and productivity are what Ineos is all about. Results are what counts, red tape and roadblocks to success and achievement do not exist. That's the way Ineos makes money.
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