Ineos is organised into about 20 standalone business units, each with its own board and operating almost entirely independently, although founder Sir Jim Ratcliffe and his associates appear to occasionally sit on their boards.
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Ineos is derived from INspec Ethylene Oxide and Specialities, a previous name of the business.
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Ineos's growth has continued through this period, expanding production in the US and China.
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Ineos's heritage is in a number of well-known blue chip chemical companies.
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In October 2005 Ineos agreed to purchase Innovene, BP's olefins and derivatives and refining subsidiary, which had an estimated 2005 turnover of US$25 billion, for $9 billion.
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In 2007 Ineos formed a joint venture with Lanxess and created Ineos ABS, comprising Lanxess's activities in acrylonitrile butadiene styrene production, located in Tarragona.
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In March 2010 Ineos Healthcare terminated its drug development programme for commercial reasons.
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In February 2011 Ineos Bio broke ground on a landmark advanced biofuels facility in Florida.
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On 23 October 2013 Ineos announced the closure of its petrochemical plant in Grangemouth, Scotland, following a dispute with the Unite trade union over pensions and an attempt to impose a wage freeze and new contract on the workforce.
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However, by 25 October 2013 the union capitulated to the closure threats and agreed to all Ineos's demands meaning the plant would stay open and strike-free for three years.
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Ineos set up new plants to produce it using key ingredients the company had used to manufacture polymers, and provided it free to hospitals.
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In June 2020, Ineos signed an intent to acquire the petrochemicals unit of BP for $5 billion.
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In September 2020, Ineos inked a 10-year deal to acquire offshore wind power from Engie's Northern wind farm.
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In January 2021, it was announced that Ineos was to donate £100 million to Oxford University for a new research institute for tackling antibiotic resistance.
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Ineos is involved in renewable energy and is one of the world's leading pioneers in the development of generating sustainable energy from waste material.
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In November 2014, Ineos announced plans to invest up to £640m in shale gas exploration in the UK.
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Ineos planned to use the gas as a raw material for its chemicals plants, including Grangemouth near Falkirk.
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Ineos announced in July 2021 it was investing £25m in HydrogenOne Capital Growth, a fund that was aiming to raise £250m and float on the London Stock Exchange.
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The value of the Grangemouth chemicals plant, which Ineos had once valued at 400 million pounds was written down to nothing by them in October 2013 during conflict with the union.
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Ineos has been accused by some of buying assets then cutting costs through the introduction of new working practices, lower wages, and terminating pension schemes.
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Ineos announced the plant would be shut down before the strike and put forward a new deal direct to the workforce, warning that the plant might close permanently if it was rejected.
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In 2018, Ineos applied for a test core drilling for shale gas at Woodsetts.
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