Is Ineos in financial woes?

[BradS1]

Donald Duck confidently stated 3 days ago Iran would attack Israel.
He heard a rumour...and stoked another fake fire

This didn't age well. LOL

 

[AWo]

The UK Telegraph states that JR is threatening Scottland (or the UK) to close the site in Grangemouth completely incl. the loss of jobs.

AWo

 

[Tazzieman]

The UK Telegraph states that JR is threatening Scottland (or the UK) to close the site in Grangemouth completely incl. the loss of jobs.

AWo

It was in the news in March. Losing $500,000/year; not exactly viable.
Grangemouth closure

 

[Shopkeep]

It was in the news in March. Losing $500,000/year; not exactly viable.
Grangemouth closure

The article says it’s $500,000 daily!

 

[AWo]

Yes, but that was about the Petroineos stuff in March and April.

Now it's about the rest, the O&P (Olimers and Polymers) plant, about another 2,000 jobs. The biggest chemical plant in the UK left.

AWo

 

[scottyboy436]

Grange mouth closing is all down to the UK governments hate for oil and gas , just becoming unviable for companies like ineos to stay here

 

[TD5-90]

Grange mouth closing is all down to the UK governments hate for oil and gas , just becoming unviable for companies like ineos to stay here

"When will they ever learn?" Never, I'm afraid... The Chinese will be happy!

 

[Baron von Teuchter]

In fairness to Ineos they bought it from BP who were planning on closing it 20 years ago. It’s ancient and like most downstream facilities run on a shoestring. Just ticking along, if it’s losing money for a company like Ineos (who are very lean compared to the majors) then it’s surely not viable for anyone else.

 

[Zimm]

In fairness to Ineos they bought it from BP who were planning on closing it 20 years ago. It’s ancient and like most downstream facilities run on a shoestring. Just ticking along, if it’s losing money for a company like Ineos (who are very lean compared to the majors) then it’s surely not viable for anyone else.

Apparently you didn’t get the memo. When an ancient plant closes, it’s always about greedy unions and burdensome regulations, and never about owners and managers pulling huge profits and bonuses for decades without putting any money back into maintaining and updating the place.