INEOS will invest £150 million in Hull to construct a new Vinyl Acetate Monomer (VAM) plant. This will bring production of an important raw material back to the UK.
Capacity of 300,000 Tons Per Year
The capacity at the site is expected to be 300,000 tons per year. 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 fiber.
Graham Beesley CEO of 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.”
Sir Jim Ratcliffe concludes, “
At an uncertain moment for the country, INEOS has confidence in its businesses and is committed to continue investing in manufacturing and high skilled jobs in the UK.”
Source: INEOS