Ineos Phenol said it will permanently cease production at its Gladbeck, Germany, facility. The company cited elevated European energy costs and CO2 taxation policies as primary factors, stating it can’t compete with Chinese imports amid global oversupply conditions.
The Gladbeck site, operational since 1954, produces 650,000 tons annually of phenol and acetone used in automotive light clusters, printed circuit board resins, wind turbine blade manufacturing, brake pad production and industrial solvents.
“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 deindustrialization across the continent,” said Jim Ratcliffe, chairman of Ineos, in a June 17 news release. “Gladbeck is not the first and will definitely not be the last unless the regulators wake up and take action.”
