- 60 skilled jobs will go as anti-competitive trade practices undercut low carbon UK production
- Dirt-cheap carbon-heavy imports from China, produced using coal and emitting up to eight times more CO₂ than INEOS’s UK operations, are now flooding the market
- Further jobs are at risk if the UK Government and European Commission do not support tariffs to protect its industry.
INEOS has announced today that it is cutting 20% of the workforce at its Acetyls plant at Hull in the UK. 60 skilled jobs are being lost as a direct result of sky-high energy costs and anti-competitive trade practices, as importers ‘dump’ product into the UK and European markets.
Dirt-cheap carbon-heavy imports from China, produced using coal and emitting up to eight times more CO₂ than INEOS’s UK operations, are now flooding the market. These Chinese products have been blocked from entering the US by effective tariffs but face no trade barriers in the UK or Europe.
INEOS is calling on the UK Government and European Commission to introduce urgent anti-dumping tariffs on Chinese and US importers to protect the chemicals sector. The company warns that unless firm action is taken, more sites will close and thousands more jobs will be lost, not only at Hull but across the UK and European chemical industry.
David Brooks, CEO of INEOS Acetyls, said: “This is a very difficult time for everyone at the Hull facility. We have a leading-edge, efficient and well-invested site and the team here is highly skilled, professional, and dedicated. Making the decision to cut 60 roles was not taken lightly. We have explored every possible alternative but in the face of sustained pressure from energy costs, combined with unfairly low-cost imports into the UK and Europe, we’ve been left with no other choice. Our priority now is to support those affected and protect the long-term future of the site.”
This is not an isolated issue. It is part of the same structural crisis that is hitting chemicals companies across the UK and EU.
INEOS recently invested £30 million at the Hull site to switch from natural gas to hydrogen, cutting emissions by 75%, the equivalent of taking 160,000 cars off the road. Despite this major step forward for industrial decarbonisation, the company now warns that without trade defence measures, (tariffs) progress will come at the cost of British jobs.
INEOS welcomes the UK Government’s recent U-turn on its decision to penalise the Hull site under the UK Emissions Trading Scheme (ETS) but structural problems remain unresolved.
“This is a textbook case of the UK and Europe sleepwalking into deindustrialisation. INEOS has invested heavily at Hull to cut CO₂, yet we’re being undercut by China and the US while left wide open by a complete absence of tariff protection. If governments don’t act now on energy, carbon and trade, we will keep losing factories, skills and jobs. And once these plants shut, they never come back.”
INEOS is the largest producer of acetic acid, acetic anhydride, and ethyl acetate in the UK and Europe. These chemicals are essential for everything from food preservation and pharmaceuticals, including aspirin and paracetamol, to diagnostic tests, adhesives, and industrial coatings. Without them, modern life doesn’t function.
ENDS
Media contacts
INEOS Agency ineos@firstlightgroup.io
Richard Longden (Richard.longden@ineos.com) +41 7996 26123
Note to editors
About INEOS Acetyls
INEOS Acetyls is a global producer of acetic acid and a range of derivatives. It is the largest producer of acetic acid, acetic anhydride, and ethyl acetate in Europe. In the US, the INEOS Acetyls business has been a leading supplier of acetic acid and acetic anhydride to North and South America for more than 45 years. And across Asia, the business provides acetic acid and commercial services across the region. It is one of the largest acetic acid suppliers in Asia, with a strong reputation in the industry for following world-class standards of production.
About INEOS
INEOS is a global petrochemicals manufacturer, comprising 29 individual businesses. We operate 154 facilities in 27 countries throughout the world, employing 24,500 people. INEOS makes the raw materials and energy used for everyday life. Its products make an indispensable contribution to society and are essential in applications ranging from the preservation of food to the provision of clean water; from construction of wind turbines, solar panels, and other renewable technologies to the construction of lighter and more fuel-efficient vehicles and aircraft; from medical devices and pharmaceuticals to clothing and apparel. In recent years INEOS has diversified with the launch of INEOS Automotive and a sports portfolio including Manchester United, OGC Nice, Lausanne Sport football clubs, as well as Mercedes AMG Petronas Formula 1 and the INEOS Grenadiers cycling team.