Styrolution to become a standalone company within INEOS
30/06/14
Frankfurt, Germany
Frankfurt, Germany – June 30, 2014– Styrolution, the global market leader in styrenics, is to become a wholly owned, standalone company within INEOS. Its shareholders, BASF SE and INEOS Industries Holding, signed an agreement for INEOS to acquire BASF's 50% share in Styrolution. The transaction is subject to regulatory approval by the appropriate antitrust authorities, which is expected in the fourth quarter, 2014.
Key quotes:
- Jim Ratcliffe, Chairman, INEOS Capital: "Styrolution has fulfilled its promise as a globally competitive business that competes effectively with large-scale producers from Asia and the Middle East. We are pleased to bring Styrolution fully into the INEOS family. After the purchase Styrolution will be run separately as a standalone company within INEOS, and continue to operate as it does today."
- Roberto Gualdoni, CEO, Styrolution: "I am happy about this outstanding sign of confidence by INEOS in the long-term prospects our business. We take this as a further motivation to keep on delivering value, focussing on our customers and implementing our strategy with creativity and determination."
ABOUT INEOS STYROLUTION
INEOS Styrolution is the leading, global styrenics supplier with a focus on styrene monomer, polystyrene, ABS Standard and styrenic specialties. With world-class production facilities and more than 85 years of experience, INEOS Styrolution helps its customers succeed by offering the best possible solution, designed to give them a competitive edge in their markets. The company provides styrenic applications for many everyday products across a broad range of industries, including automotive, electronics, household, construction, healthcare, toys/sports/leisure, and packaging. In 2015, sales were at 5 billion euros. INEOS Styrolution employs approximately 3,100 people and operates 15 production sites in nine countries.
