Name of company: INEOS
PEOPLE PRESENT IN PRONTO: STEFAN KRÄMER, RALF GESTHUISEN
VISITING ESRS: EGIDIO LEO
INEOS is a privately owned multinational chemicals company headquartered in London, UK. It is in the top ten chemicals manufacturing companies as measured by sales revenue. INEOS is an acronym of INspec Ethylene OxideSpecialities, a name derived from their first acquisition in 1998. It also stems from one Latin and two Greek words: “Ineo” is Latin for a new beginning, “Eos” is the Greek goddess of dawn and “neos” means something new and innovative. As a result, the name INEOS represents the “dawn of something new and innovative”.
INEOS in Köln operates a large petrochemical site where the process plants produce key raw materials for other INEOS businesses and for external customers. INEOS in Köln benefits from economics of scale and close proximity to both feedstock and customers as well as from the high integration with the different plants for derivatives, such as ethylene oxide, propylene oxide, acrylonitrile and others. The highly integrated site at Cologne is focused on high reliability, quality and cost leadership with a strong integration of both the production units and the energy network. INEOS provides products for many markets including: Fuels and Lubricants (23.3%), Packaging and Food (18.5%) and Construction (16.1%). Other markets include Automotive & Transport, White Goods & Durables, Pharmaceutical & Agrochemical and Textiles. The majority of INEOS’s geographic earnings are distributed across Germany (16.8%), USA (16.1%), UK (12.3%), France (11.6%) and Benelux (10.8%). INEOS is involved in renewable energy and is one of the world’s leading pioneers in the development of generating sustainable energy from waste material. INEOS reportedly runs operations with minimal head office management, feeling that “work teams” are better suited for handling of the workflow day to day, without middle-management.