Ineos considers to move to Switzerland.

Ineos is considering the move of its headquarters and tax residence from the UK to Switzerland. The company estimates potential cash tax savings of around 450 million euro between now and 2014, should it proceed with the move to Switzerland. This saving would further support investment in skills, plant and technology, considered by the company to be critical to driving future growth and competitive advantage. Irrespective of this change Ineos remains committed to its UK operations. It continues investment in the UK as one of the largest manufacturing companies in the country, employing 3,700 permanent staff and 1000 contractors across eight UK sites.