GRANGEMOUTH REFINERY UNDER THREAT

This article looks at the man behind Ineos, the firm that owns the Grangemouth refinery in Scotland. The refinery is in trouble due to strike threats as a result of proposals to reduce pay. All this is not helped by the increase in energy costs and the fact that the plant is losing about £10 million a month. There is over-capacity in European refinery capacity and the feedstock is much more expensive than that in the USA. Altogether this is not a good scenario and highlights the problems facing much of our chemical industry.

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