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Texas  + State of Texas  + Industrial  |  October 2, 2023
Ineos pays $500M for Texas City chemical plant
Mike Boyd
By: Mike Boyd

Texas City Chemical Plant Trades for $500M

Ineos Group Ltd. acquired a Texas City acetic acid plant from Tennessee-based Eastman Chemical Co. for $490 million.

All current employees at the Eastman Texas City site will be transferred to Ineos once the transaction is closed. The companies did not specify the number of employees.

Ineos has already worked with Eastman’s Texas City site by licensing its Cativa acetic acid technology to produce acetic acid at the site. Acetic acid is used to make household fabrics, laundry detergent and other everyday items.

Companywide, Eastman employs about 14,500 people in over 100 countries.

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Ineos

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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