MOSCOW (MRC) -- INEOS Enterprises has completed the sale of INEOS Styrenics, its Expandable Polystyrene Business (EPS), to Synthos S.A. for EUR80m, said the company on its site.
The sale of the Styrenics business includes manufacturing sites at Wingles and Ribecourt in Northern France and Breda in the Netherlands. The three production sites are supported by its technology Centre in Breda, including a research laboratory and pilot plant facilities. Customer Service, Logistics and Finance groups are also located in Breda. 250 people will transfer as part of this deal.
The sale of the business, completed on Wednesday 31 August, represents an important step in the ongoing development of the EPS business. Synthos S.A. is one of the largest manufacturers of chemical raw materials in Poland. The Company was the first European manufacturer of emulsion rubbers and is a leading manufacturer of polystyrene for foaming applications.
As MRC informed earlier, in 2013 INEOS announced its intention to close production of Expandable Polystyrene (EPS) at its Marl site in Germany.
INEOS Styrenics is a part of the INEOS Enterprises portfolio of business. INEOS Enterprises actively seeks market opportunities to acquire, develop and sell chemical businesses.
Synthos Group S.A. is one of the largest manufacturers of chemical raw materials in Poland. The Company is the first European manufacturer of emulsion rubbers and a leading manufacturer of polystyrene.The company offers high-grade, sophisticated technological products to a wide range of customers worldwide. Synthos S.A. is a company which was established following the merger of Firma Chemiczna Dwory S.A. and Kaucuk a.s.
MRC