Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
INEOS Phenol, the world’s largest producer of phenol and acetone, announced that it intends to permanently close its Gladbeck plant in Germany, a move that will result in 279 job losses at the site.
The shutdown will take place at a date to be confirmed, with the closure expected to be finalized once consultations with the works council and employees are completed.
The decision was driven by soaring European energy costs and a punitive CO tax regime that has rendered the German site uncompetitive against cheaper Chinese production and a global oversupply of phenol and acetone.
INEOS Phenol will consult with the works council, employees, customers and suppliers to ensure a safe and compliant exit of the site.
The Gladbeck plant, which has a production capacity of 650,000 tonnes per year, employs 279 people directly and supports more than 1,500 jobs indirectly. The company will continue its phenol business elsewhere, serving customers around the world.
Eurofound (2025), Ineos, Closure in Germany, factsheet number 204019, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/204019.