INEOS is expanding with £150m new Hull facility - with 40 jobs up for grabs
Part of the Saltend Chemicals Park
By Hull Daily Mail | Posted: 27 Feb 2019
Chemicals giant INEOS has announced plans to build a new £150m facility at its site in Hull.
The global manufacturing business will build the new plant at its home at the Saltend Chemicals Park, in a move which will double the size of its current workforce and create 40 new jobs.
The new plant will produce Vinyl Acetate Monomer (VAM), a key component used in adhesives, textiles and packaging.
News of the major investment in Hull comes as a huge boost to Saltend, which last year saw the closure of Vivergo Fuels, resulting in the loss of 150 jobs.
Graham Beesley, CEO at INEOS Oxide, said: “This is an exciting time for INEOS and great news for manufacturing in the region.
“We are proud to be bringing production of this important material back to the UK. This will not only strengthen UK manufacturing but boost exports from the UK to Europe and the rest of the world.
“This investment underlines our commitment to manufacturing in the UK and our faith in the Hull site and our skilled and committed workforce.”
The new facility will form part of INEOS’ £1bn investment in the UK, as it aims to cement its place in Britain as a world leader.
The plant, once completed, is expected to produce up to 300,000 tonnes of VAM every year. The £150m investment will also bring production of an important raw material back to the UK.
INEOS is a global chemicals company with a facility at Saltend in Hull (PA)
VAM is a key component in a wide range of important high-end products, including laminated windscreens, toughened glass, adhesives, coatings, films, textiles and carbon fibre.
It will meet the growing demand for VAM in Europe and across the globe, supporting INEOS’ position as a leading supplier to a wide range of markets.
The new plant will support 40 new jobs in Hull, doubling the size of the current workforce.
The product made at the facility will be sold across the UK, Europe and the rest of the world.
Rumours surfaced last summer that INEOS was considering its Saltend site as a location for a new plant. That rumour has now become a reality, with Hull set to be at the heart of INEOS’ growth in the UK.
The news also comes as a welcome lift for Saltend Chemicals Park.
Vivergo Fuels, which produced biofuel, blamed Government “inaction” over its support of renewable fuel E10 for its closure. Its facility at Saltend currently lies dormant, but is being maintained in the event of market conditions improving.