Nearly all the workers at Ineos’s Grangemouth refinery and petrochemical plant have signed up to the company’s new pension plan and accepted new terms and conditions, the company said yesterday.
The acceptance of the deal comes after a drawn-out and bitter dispute between operator Ineos and the Unite union.
Ineos said that “almost the entire workforce” of 1,350 employees had agreed to the new arrangements.
The deal puts the company in a good position to bring in significant new investment, Calum MacLean, the chairman of Ineos Grangemouth (UK), added.
Mr MacLean said: “With our costs coming under control, the shareholders are committed to making good on their promise of a £300million investment.
“It will allow us to build a new terminal and use US shale gas as a new raw material.”
Ineos is the full owner of the petrochemical plant and a joint owner of the 210,000 barrels-per-day refinery along with PetroChina.
The UK company had threatened to close the petrochemical side of the business but changed its mind after Unite accepted changes to pay, pensions and other terms and conditions.
Ineos and the union were initially at loggerheads over the company’s treatment of Stevie Deans, who was investigated by the firm following his involvement in a bitter row with Labour over the selection of an election candidate.
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