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INEOS acquires BASF’s stake in Styrolution

by ChemOrbis Editorial Team - content@chemorbis.com
  • 18/11/2014 (11:54)
Switzerland’s INEOS Group Holdings has completed its acquisition of BASF’s 50% share in Styrolution, a 50-50 joint venture between the two companies, according to a press release dated November 17 on INEOS’s website. The purchase price was reported at €1.1 billion ($1.37 billion). The joint venture was formed in 2011 and included a call option allowing INEOS to buy out BASF’s stake in the business.

Styrolution’s assets in Europe include a 550,000 tons/year styrene plant and a 170,000 tons/year ABS plant in Ludwigshafen, Germany, a 475,000 tons/year PS plant and a 260,000 tons/year ABS plant in Antwerp, Belgium, a 125,000 tons/year ABS plant in Dormagen, Germany, a 180,000 tons/year PS plant in Wingles, France and an 80,000 tons/year PS plant in Trelleborg, Sweden. However, the company is planning to close its Trelleborg PS plant by the end of this year due to regional overcapacity.
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