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Sir Jim Ratcliffe, co-owner of Manchester United and head of Ineos, has urged European legislators to alleviate price pressures on the chemical industry, warning of a potential catastrophic decline due to high energy costs and international competition. With a recent job loss at Ineos’s Hull factory attributed to cheap imports from China, he emphasizes the urgent need for action to protect this vital sector employing 1.2 million people in Europe.
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