Sir Jim pours more money into Ineos Automotive.

From the Independent,

Man United owner Sir Jim Ratcliffe pours nearly £600m into his car project
Ineos Automotive, which makes the Grenadier offroader, now owes the rest of Sir Jim’s chemical-making empire €2.43bn after it borrowed €710m more

Howard Mustoe
1 day ago

Business | The Independent

The latest breaking news, comment and features from The Independent.

www.independent.co.uk

 

[parb]

That is commitment right there

 

[MattA]

Reassuring for the future , happy days

 

[Michael_in_Baja]

Belstaff jackets for all!

 

[Cheshire cat]

From the Independent,

Man United owner Sir Jim Ratcliffe pours nearly £600m into his car project
Ineos Automotive, which makes the Grenadier offroader, now owes the rest of Sir Jim’s chemical-making empire €2.43bn after it borrowed €710m more

Howard Mustoe
1 day ago

Business | The Independent

The latest breaking news, comment and features from The Independent.

www.independent.co.uk

Not such a well researched article as it mentions the Fusilier being due in 2028.

 

[Tazzieman]

Not such a well researched article as it mentions the Fusilier being due in 2028.

Who knows, or dares to dream....

 

[GN4HIR]

Do we know the current total production of IGs? Divide 3.14bn invested by IA by the number of vehicles built... I'm guessing I got a good deal on my unit.

 

[ADVAW8S]

Who knows, or dares to dream....

Everyone is going wild here in the US because Scout automotive is releasing their EV pick up and SUV with a range extender motor. Goes from 350 EV to 500 with Range extender. May Jim says not worry about the EU but America could be interested.

 

[AWo]

Not such a well researched article as it mentions the Fusilier being due in 2028.

The article refers to last year, not now. Yes, strange that with the Fusilier. I would not call it that enthusiastic "commitment" as this was money from the chemical part, not his private money. Ask the chemical people what they would have needed the money for...And it shows what I have said, IA lacks money. That was the third money transfer from the chemical business to IA.

AWo

 

[Baron von Teuchter]

The article refers to last year, not now. Yes, strange that with the Fusilier. I would not call it that enthusiastic "commitment" as this was money from the chemical part, not his private money. Ask the chemical people what they would have needed the money for...And it shows what I have said, IA lacks money. That was the third money transfer from the chemical business to IA.

AWo

I seriously doubt he used any personal funds to set up IAL, he owns a significant portion of the Ineos group - it will all be group money.

 

[Tazzieman]

I seriously doubt he used any personal funds to set up IAL, he owns a significant portion of the Ineos group - it will all be group money.

I'm just grateful he doesn't blow his wealth on golf courses and drinking/smoking coke.
Why use your personal cash when the whole business can feed itself?
https://www.thegentlemansjournal.com/article/jim-ratcliffe-ineos-manchester-united-interview/

 

[AWo]

Of course...and the group suffers. And reading that there was a need to fund IA again is not a good sign, at least for me

For me it seems that Ineos chemicals is shifting to the US and Asia. Ratcliffe likes Trump and maybe he hopes on his election which presumably would make his business easier. Less regulations, etc. The site which makes profit in the EU today is one which imports cheap fracking gas from the US. His son will take over more responsibilities in the US business. In Asia is this renewed partnership with Sinopec and they build plants there. There were some press releases where JR has critizized and warned the EU council.

He can not drop IA or he looses his face. 15 years ago his face was unknown even to the majority of Ineos employees, he was just "a name". Nowadays his face is so much linked to projects of his private interest, especially the Grenadier. But the chemical sites always pay. That sums up to a pretty big number...

- Hotels around the worls
- Airline
- Soccer clubs incl. ManU and OCG Nizza
- Australian All Blacks
- many land purchases on Iceland
- National Parc in Tanzania
- Formula 1 Team
- Team Britannia (€50 Mio. starting fee per year)
- Cycling Team "The Grenadiers"
- London Business School

All that was possible because the chemical section earned good money. He should be careful not to dry out his source of wealth and cut their funds off to pay his "projects". Because all above only costs money, incl. IA. The press articled referred to here shows that. Again.

AWo