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Shrieve buys styrene business, assets from CLP Chemicals

October 08/2020

MOSCOW (MRC) -- Shrieve Chemical (The Woodlands, Texas) says it has acquired the styrene business unit and other assets from CLP Chemicals (Houston, TX), said Chemweek.

No value for the transaction has been disclosed.

As MRC reported earlier, October contract prices for styrene in the United States were reconciled at the level of the previous month, amid mixed trends in lower raw material costs and a gradual rise in demand following the coronavirus quarantine. Contract price remained at 31-35 cents per pound (USD682-770 per tonne), FOB.

As per ICIS-MRC- Price Report, in October, the cost of Russian polystyrene continued to rise. A shortage of material remained in the domestic market. Traders reported that the Nizhnekamskneftekhim plant reduced bids for the purchase of PS in the current month to 40%.

CLP, which specializes in distribution of styrene, acrylates, acetic acid, glycerin and other niche chemicals, will retain and continue to operate its glycerin business unit, it says. The acquisition is aimed at expanding chemicals distributor and marketer Shrieves product portfolio and geographic footprint to serve growing global demand for specialty chemicals, according to Shrieve CEO Ted Threadgill.
Author:Anna Larionova
Tags:EPS, GPPS, styrene, HIPS.
Category:General News
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