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(PlastEurope) -- In order to meet
the EU’s preconditions for the creation of Styrolution (Ludwigshafen / Germany)
– the 50:50 styrene joint venture between BASF (Ludwigshafen / Germany) and
Ineos (Lausanne / Switzerland) – the latter on 1 October 2011 awarded its ABS
plant in Tarragona / Spain to its Elix Polymers (Tarragona / Spain) subsidiary,
which it subsequently carved out. Elix Polymers will now operate as an
independent company.
When the competition authorities had approved the merger of the two
group’s styrene activities earlier this year – see Plasteurope.com of 05.10.2011
– they had set the condition that the Tarragon plant be divested in order to
restore competition in the European market for natural and pre-coloured ABS
products.
The Tarragona-based business comprises ABS products sold under the
“Lustran” and “Novodur” trademarks. Ineos said it plans to sell Elix, which has
already begun the process of rebranding itself, to a third party.
mrcplast.com
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