Business recovering after Ineos shutdown

The future looks bright
The future looks bright

Ineos claims the future looks bright for its Grangemouth site after most of its employees signed up to a new pension plan and terms and conditions.

The firm recently announced the majority of its 1350-strong workforce had agreed to the deal contained within the company’s survival plan and confirmed salaries for the existing workers would remain unchanged.

Now the workers are on board, Ineos is concentrating on securing the £300 million investment needed for the company to continue trading and build a new terminal to import shale gas from the USA.

Calum MacLean, Ineos chairman, said: “This is another important step in the rebirth of the Grangemouth site. With our costs coming under control, the shareholders are committed to making good on their promise of a £300 million investment, which will allow us to build a new terminal and use US shale gas as a new raw material for the petrochemicals site.”

Unite had not responded to the announcement as The Falkirk Herald went to press. The union was involved in a bitter dispute with Ineos earlier in the year which came to a head when plant owner Jim Ratcliffe closed the site down for a number of days.

Unite feared the new deal could see up to 200 workers lose their jobs and the remaining staff having their pay and conditions significantly downgraded.

The Ineos survival plan will see the site close three of its older facilities, the Benzene plant at some point next year and the G4 cracker and Butadiene plant in 2015.

It also plans to more than double the number of apprentices and new graduate recruits it takes on over the next three years.

Mr MacLean said: “There is now a growing belief in the future of the plant. I look forward to a new era of cooperation and teamwork.”