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Company News

Styrolution born out of styrenics

G

ermany-based BASF SE and Ineos have obtained approval from the EU Commission on the formation of the 50:50 joint venture company Styrolution. BASF will "carve out" its styrenics business and will combine these units with Ineos's styrene business.

These include styrene monomers (SM), polystyrene (PS), acrylonitrile butadiene styrene (ABS), styrene-butadiene block copolymers (SBC) and other styrene-based copolymers (SAN, AMSAN, ASA, MABS) as well as copolymer blends.

BASF's plants in Germany, Belgium, South Korea, India and Mexico, and Ineos's plants in Canada, the US, Germany, France and Sweden, will all become part of the new company.

Ineos will also acquire the other 50% equity in its 50:50 styrenics joint venture with Nova Chemicals and merge it with the Frankfurt-based Styrolution.

Pro forma sales of the combined businesses were EUR6.4 billion in 2010. Expandable polystyrene is not part of this transaction. BASF and Ineos will retain their respective businesses.

 
 
 
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