Petrochemical plant at Grangemouth to go into liquidation

Petrochemical plant at Grangemouth to go into liquidation

The dispute between Grangemouth owner Ineos and workers has resulted in the site’s petrochemical plant going into liquidation.
‘The company made it clear that rejection of change would result in closure,’ said Ineos in a statement.
‘Regrettably, the union advised union members to reject any form of change…The shareholders met yesterday to consider the future of the business following the result of the employee vote. Sadly, the shareholders reached the conclusion that they could not see a future for Grangemouth without change and therefore could no longer continue to fund the business.
‘As a result of this decision, the directors of the petrochemicals business have had no option but to engage the services of a liquidator. It is anticipated that a liquidation process will commence in a week.’
Oil and Gas Press

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