Chemical Week Magazine :: Business & Finance :: Asia/Pacific
Ineos sues Sinopec over misuse of acrylonitrile technology
6:28 AM MDT | April 4, 2014 | –Natasha Alperowicz
Ineos says it is taking legal action against Sinopec and Sinopec subsidiaries, including Sinopec Ningbo Engineering Co. (SNEC), for breach of contract and/or misuse of trade secrets. SNEC has broken a long-established technology agreement which, together with trade secret misuse by other Sinopec companies, has enabled a series of world-scale acrylonitrile projects without Ineos’s agreement or consent, Ineos says. Ineos fears that these breaches of rights will harm the company’s acrylonitrile business, which earns up to $500 million/year of profit and...
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