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INEOS Phenol Concludes The Accession Of Mitsui Phenols Singapore Ltd

• The merger constitutes the complete asset base from Jurong Island, Singapore's Mitsui Phenols, adding over 1 million tonnes in capacity per year, including alpha-methyl styrene (20 ktpa), bisphenol A (150 ktpa), acetone (185 ktpa), phenol (310 ktpa), and cumene (410 ktpa).
• The firm, with a USD 750 m turnover, is an integrated fit with INEOS Phenol's existing functions in the US, Belgium and Germany.
• The deal helps INEOS aid its consumers worldwide in an efficient way, expanding unexplored markets and associations in Asia.

INEOS Phenol declares its acquisition's completion for the complete asset base of Mitsui Phenols Singapore Ltd from the top chemicals manufacturer in Japan, Mitsui Chemicals, for a net consideration of USD 330 million.

Now, 120 employees are reportedly going to be a part of INEOS Phenol.

The inclusion of the Jurong phenol and BPA assets proves to be a great fit for INEOS Phenol's already operational asset portfolio and expertise, as well as offers major integration prospects with the company's production sites in Germany, Belgium and the United States.

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This acquisition comes as a great prospect for boosting their business's competitiveness, as per INEOS Phenol's CEO, Hans Casier. These assets are well placed and have excellent quality, accompanied by a highly skilled operations team along with great safety, health and environmental measures.

According to Business Director INEOS Phenol, Gordon Adams, joining the market in Asia through this acquisition provides INEOS Phenol with a distinct ability to help their consumers worldwide in planning for the upcoming anticipated growth, meanwhile they look towards the development of unexplored markets and consumer relationships linked with bisphenol A that will be INEOS’s new product.

Cumene is a crucial raw ingredient used in the production of Phenol, alpha-methyl styrene, acetone, and BPA that are employed in producing plastics, synthetic fibres, polycarbonate, phenolic resins, and solvents. This product range finds application in a multifarious spectrum of downstream markets, like the construction, healthcare, automotive, surgical, electronics, and fibre industries.

INEOS Phenol is the leading phenol and acetone producer with working assets in the USA, Germany, and Belgium, which are all backed by a devoted research and technology centre established in Germany. The company delivers just under 1.9 million mt of phenol along with an estimated of 1.2 million mt of acetone yearly.

The deal is subject to customary regulatory clearance and is expected to conclude in Q1 2023.

Mitsui Phenols Singapore Ltd has been operational since 1999. Its present turnover is USD 750 million, with a total of 120 employees. They produce more than a million tonnes of chemicals annually. This deal offers great integration opportunities for INEOS Phenol that has operations across the US, Germany, Belgium.

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DLA Piper Corporate Partner, Katherine Chew, who carried out the dealstated that they are excited to advise INEOS Phenol on this major transaction. This well-planned addition of a significant production facility in Southeast Asia aligns with their consumer's asset portfolio, allowing them to improve their services whilst offering prospects for expansion in new markets.

DLA Piper's team was guided by Katherine Chew, with help from Ying Chern Tan, Senior Associate, Corporate, both located in Singapore. They were further assisted by Yuji Shimada, Associate, Corporate and Corporate Partner Masahiko Ishida, both located in Tokyo, Japan, that spread their services with additional help from Jonathan Watkins, Corporate Partner based in Manchester, UK.

According to the Procurement Resource article, the recent merger of Mitsui Phenols Singapore Ltd by INEOS Phenol has been covered. The deal includes an entire asset base from Jurong Island, Singapore's Mitsui Phenols, bringing more than one million tonnes of capacity each year, including alpha-methyl styrene (20 ktpa), bisphenol A (150 ktpa), acetone (185 ktpa), phenol (310 ktpa), and cumene (410 ktpa).

This deal will also help INEOS provide better service to its consumers worldwide in an efficient way whilst expanding unexplored markets and associations in Asia. The company's acquisition was advised by DLA Piper, guided by Katherine Chew.