Ineos Backs Brexit Deal

Ineos Backs Brexit Deal
Ineos announces its support for the UK government's proposed EU withdrawal agreement.

Ineos has announced its support for the UK government’s proposed EU withdrawal agreement.  

In a company statement released Wednesday, Ineos said the agreement creates a “sensible” transition period. The company also outlined that a no-deal scenario would involve “significant risk” to Ineos and said the government should be congratulated on a deal negotiated in “very difficult circumstances”.

“I have made no secret of the fact that whilst I have long supported the concept of a common market within Europe, I have never felt comfortable with the concept of ever closer union,” Jim Ratcliffe, Ineos chairman, said in the company statement.  

“A Brexit deal that moves us closer to an open European market has my full support. The government’s withdrawal agreement is a pragmatic and sensible arrangement to allow final negotiations to take place and the outlined political agreement moves us to a long-term position that I would fully support,” he added.

Ineos has several petrochemicals and oil and gas businesses, as well as an automotive business, according to its website.

At the Special European Council in Brussels on November 25, UK Prime Minister Theresa May reached a deal with the leaders of the other 27 EU member states on a withdrawal agreement that she says “will ensure our smooth and orderly departure on 29th March next year”.


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