INEOS Chairman Jim Ratcliffe to Receive Petrochemical Heritage Award
March 22, 2013 - Philadelphia and San Antonio
Award will be presented at 2013 International Petrochemical Conference on March 25 in San Antonio.
James A. “Jim” Ratcliffe, chairman of INEOS, will receive the 17th annual Petrochemical Heritage Award on March 25, 2013, at the Grand Hyatt in San Antonio, Texas. The award will be presented at the 2013 International Petrochemical Conference hosted by the American Fuel and Petrochemical Manufacturers (AFPM).
“An engineer by training, Jim’s career shows how an optimizer steadily grows, taking INEOS through two major industry downturns to success after success,” said Thomas Tritton, president and CEO of the Chemical Heritage Foundation. “He is clearly a man who is in for the long haul, holding the chairmanship at INEOS since 1999 and in 2007 finishing the London Marathon in under four hours.”
About Jim Ratcliffe
After graduating in chemical engineering from Birmingham University in 1974, Jim Ratcliffe began his career in the chemical industry in accounting, marketing, and business management with Courtaulds and Exxon. After 15 years in manufacturing, during which he completed a 2-year M.B.A. degree at London Business School, he moved into private equity as director of Advanced Materials with the U.S. company Advent International, retaining a particular focus on the chemicals sector.
Ratcliffe put the experience gained at Advent to good use in 1992 when he led his own buyout of a BP specialty chemicals business based in the United Kingdom. The company was to be called Inspec, and as one of two founder shareholders and managing director, Ratcliffe initiated a number of acquisitions that saw the company grow significantly. Two years later it was floated on the U.K. stock exchange.
In 1998 Ratcliffe sold his interest in Inspec to lead another buyout opportunity. This time it was the Inspec’s Antwerp facility, which was to become known as INEOS. For the past 15 years Ratcliffe has concentrated his efforts building INEOS as its chairman and major shareholder.
Under the management of Jim Ratcliffe and the board of INEOS Capital, the company has established a strong track record of acquiring businesses and improving their profitability through safe operation, tight financial management, and good customer service.
Today, INEOS is one of the world’s largest chemicals companies, employing together with its joint ventures, around 20,000 people across 104 sites in 25 countries. Additionally it has joint ventures with PetroChina, BASF, Total, and Carlyle Private Equity. Sales in 2012 reached $45 billion.
About the Petrochemical Heritage Award
CHF and the Founders Club established the Petrochemical Heritage Award in 1997 to recognize individuals who made outstanding contributions to the petrochemical community; to inspire achievement; and to promote public understanding of the modern sciences, industries, and economies.
The full list of the 17 past recipients of the Petrochemical Heritage Award:
- Mohamed Al-Mady, vice chairman and CEO of the Saudi Basic Industries Corporation (SABIC)
- Gordon Cain, well-known chemical engineer and business entrepreneur
- Ting Tsung (“T. T.”) Chao, founder of the Westlake Chemical Corporation
- Herbert D. “Ted” Doan, former chairman and CEO of The Dow Chemical Company
- Dan L. Duncan, chairman, Enterprise Products partners
- John T. Files, founder and chairman of the Merichem Company
- Raj L. Gupta, former chairman and CEO of Rohm and Haas Company
- John R. Hall, chemical engineer and former president, chairman, and CEO of Ashland
- Jon M. Huntsman, founder of Huntsman Corporation
- Peter R. Huntsman, president and CEO of the Huntsman Company
- Ralph Landau, cofounder of Halcon/Scientific Design Group
- William A. McMinn, Jr., former president of Cain Chemical
- Marvin O. Schlanger, chairman of the Supervisory Board of LyondellBasell Industries N.V.
- Harold A. Sorgenti, former president and chief executive officer of ARCO Chemical Company
- Dave C. Swalm, founder of Texas Petrochemicals Company
- J. Virgil Waggoner, former president and CEO of Sterling Chemicals
- Hiromasa Yonekura, chairman of the Sumitomo Chemical Company
About the Founders Club
The Founders Club was founded in 1981 by a group of petrochemical industry executives who participated in the establishment of the Petrochemical Committee of the NPRA and ultimately generated the International Petrochemicals Conference (IPC) as a separate identity within NPRA. The Founders Club today is a select group of individuals with a minimum of 25 years of distinguished service in the petrochemical industry. The club proudly advances the legacy inherited from these original "Founders" as contributing stewards of the petrochemical industry with a respect for the past (legacy), activities for the present (networking), and support for the future (recognition).
About American Fuel and Petrochemical Manufacturers
AFPM is a trade association representing high-tech American manufacturers of virtually the entire U.S. supply of gasoline, diesel, jet fuel, other fuels and home heating oil, as well as the petrochemicals used as building blocks for thousands of vital products in daily life.
About the Chemical Heritage Foundation
The Chemical Heritage Foundation is a collections-based nonprofit organization that preserves the history and heritage of chemistry, chemical engineering, and related sciences and technologies. The collections are used to create a body of original scholarship that illuminates chemistry’s role in shaping society. In bridging science with the humanities, arts, and social sciences, CHF is committed to building a vibrant, international community of scholars; creating a rich source of traditional and emerging media; expanding the reach of our museum; and engaging the broader society through inventive public events.
For more information, please visit www.chemheritage.org.