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Ineos is a privately owned British chemicals company. Its headquarters are located in the small village of Lyndhurst in Hampshire, England. It was formed in 1997 to effect a management buy out of the former BP petrochemicals assets in Antwerp, Belgium. Since then, it has since expanded by purchasing several other businesses. Several of its divisions formerly belonged to Amoco, BASF, BP, ICI, and Dow Chemical, Solvay, UCB. In October 2005 it agreed to purchase Innovene, BP’s olefins and derivatives and refining subsidiary, which has an estimated 2005 turnover of $25 billion, for $9 billion. The deal, which was completed on 16 December 2005, roughly quadrupled Ineos's turnover, which was previously around $8 billion.
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