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BASF and INEOS received approvals for formation of JV Styrolution

October 04/2011

(BASF) -- BASF SE and INEOS AG have received approvals from all relevant antitrust authorities for the formation of the joint venture Styrolution. Closing is effective as of October 1, 2011. From this date on Styrolution operates independently. 


BASF and INEOS have combined their global business activities in 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 into the new joint venture, Styrolution. The business with expandable polystyrene is not part of the transaction. BASF and INEOS will retain their respective businesses.

 
The company headquarters will be located in Frankfurt/Main, Germany. In the JV 50% of the shares will be owned by BASF and 50% by INEOS. Styrolution will have sites in Germany, Belgium, France, Sweden, Korea, India, Thailand, the USA, Canada and Mexico. In 2010 the joint venture had pro forma sales of about EUR 6.4 billion and employed approximately 3,400 people.


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Tags:PS, ABS, styrene, BASF.
Category:General News
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