MOSCOW (MRC) -- Ineos Olefins and Polymers USA has issued a force majeure declaration on polypropylene supplies from its Carson, California, facility, said Plastemart, citing Platts.
The force majeure stemmed from "an inability to acquire feedstock", the letter added. Company sources did not return calls asking what the allocation percentage might be or the duration of the force majeure.
No information on specific grades or sites affected was immediately available, but sources said the force majeure likely applied to homopolymer and random co-polymer grades.
As MRC wrote before, Ineos will invest around GBR 640m (USD1 billion) in shale gas exploration in the United Kingdom. The company plans to use the gas as a raw material for its chemicals plants, including Grangemouth in Stirlingshire. Grangemouth is currently running at a loss, but Ineos believes shale gas will transform the economics of the plant.
Ineos Group Limited is a privately owned multinational chemicals company consisting of 15 standalone business units, headquartered in Rolle, Switzerland and with its registered office in Lyndhurst, United Kingdom. It is the fourth largest chemicals company in the world measured by revenues (after BASF, Dow Chemical and LyondellBasell) and the largest privately owned company in the United Kingdom.
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