24 June, 2025 15:59:14 IST 
Ineos Phenol, the world’s largest producer of phenol and acetone, is planning to permanently stop production at its site in Gladbeck, Germany.
“Sky high European energy costs alongside Europe’s punitive CO2 tax policy have combined to leave Europe uncompetitive against imported Chinese production and a global oversupply. Europe’s lack of competitiveness has already led to the exit of several downstream consumers of phenol and acetone to such an extent that local demand no longer supports the operation of the Gladbeck site which dates from 1954 and requires significant future investment,” the company said in a press note.
“This is the consequence of Europe’s total lack of energy competitiveness and the blind devotion to carbon taxation which is leading to a mass deindustrialisation across the continent. Gladbeck is not the first and will definitely not be the last unless the regulators wake up and take action,” remarked Sir Jim Ratcliffe, Chairman of Ineos.
The Gladbeck plant has the capacity to produce 650,000 tonnes of product each year, making it one of the largest plants of its kind in the world. The site employs 279 people directly and indirectly supports over 1500 jobs.
