Styrolution starts business

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 JV Styrolution. Expandable polystyrenes are not part of the transaction. Here both companies will retain their respective businesses.

Styrolution’s headquarters will be located in Frankfurt/Main, Germany. The JV has sites in Germany, Belgium, France, Sweden, Korea, India, Thailand, the USA, Canada, and Mexico. In 2010 the JV had pro forma sales of about EUR 6.4 billion and employed approximately 3,400 people.

Dr. Martin Brudermüller, Vice Chairman of the Board of Executive Directors of BASF and responsible for the Plastics segment said: “From day one Styrolution will be a global leader in its industry with an excellent competitive position. We are convinced that the decision to combine our styrenics activities in a joint venture is the right one.”

Jim Ratcliffe, Chairman, Ineos Capital, commented: “Styrolution has the people, the products and scale to compete effectively in world markets. Bringing together plant, products and entrepreneurial employees from BASF and Ineos into a new joint venture company with a clear strategy, provides a firm foundation for long-term success and growth.”