Billionaires
Billionaire Jim Ratcliffe Says Europe’s Chemical Industry Is a Mess
- Companies are closing capacity amid competition from Asia, US
- German trade group says production has collapsed massively
This article is for subscribers only.
The high cost of energy and carbon have left Europe’s petrochemical industry struggling to compete with the rest of the world, according to Jim Ratcliffe, head and founder of industry giant Ineos Group.
“Europe’s a mess for petrochemicals today,” Ratcliffe said in an interview with Bloomberg TV. “Everybody’s leaving petrochemicals in Europe, which I’ve never seen in my working life before.”