07-Oct-2011 - BASF SE

Styrolution commences business

BASF SE and INEOS AG have received approvals from all relevant antitrust authorities for the formation of the joint venture Styrolution. Closing is effective as of October 1, 2011. From this date on Styrolution operates independently.

Dr. Martin Brudermüller, Vice Chairman of the Board of Executive Directors of BASF SE 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.”

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 new joint venture, Styrolution. The business with expandable polystyrene is not part of the transaction. BASF and INEOS will retain their respective businesses.

The company headquarters will be located in Frankfurt/Main, Germany. In the joint venture 50% of the shares will be owned by BASF and 50% by INEOS. Styrolution will have sites in Germany, Belgium, France, Sweden, Korea, India, Thailand, the USA, Canada and Mexico. In 2010 the joint venture had pro forma sales of about €6.4 billion and employed approximately 3,400 people.

Styrenics are mainly used for household and office products, for electrical and communication devices and for packaging. Styrene-based copolymers are thermoplastic resins on the basis of the monomers styrene and acrylonitrile. They are mainly used in the automotive and technical industries as well as for many everyday products.

 

Facts, background information, dossiers
  • joint ventures
  • BASF
  • Ineos
More about BASF
More about INEOS
  • News

    bp agrees to sell its petrochemicals business to INEOS

    bp announced that it has agreed to sell its global petrochemicals business to INEOS for a total consideration of $5 billion, subject to customary adjustments. The agreed sale, the next strategic step in reinventing bp, will further strengthen bp’s balance sheet and delivers its target for a ... more

    INEOS set to acquire Cristals North American Titanium Dioxide Business from Tronox for $700 million

    INEOS Enterprises has announced that it has signed an agreement to acquire The North American business of National Titanium Dioxide Company Limited (Cristal) from Tronox Limited for $700 million. Cristal’s North American business includes two-plants located at the Ashtabula Ohio (US) comple ... more

    The offroader from the chemical industry

    Being a great admirer of the Landrover Defender series, Jim Ratcliffe, CEO of INOES group, founded the new business branch INEOS Automotive. This, for a chemical company, unusual project is based on Ratcliffe’s personal attachment to this offroad car. Ratclife saw a market he thought to be ... more

  • Companies

    INEOS Group Limited

    INEOS is a global manufacturer of petrochemicals, specialty chemicals and oil products. It comprises 19 businesses each with a major chemical company heritage. Our production network spans 73 manufacturing facilities in 19 countries throughout the world. We believe INEOS is characterized b ... more

    INEOS Polyolefins

    INEOS is a global manufacturer of petrochemicals, specialty chemicals and oil products. It comprises 19 businesses each with a major chemical company heritage. Our production network spans 73 manufacturing facilities in 19 countries throughout the world. We believe INEOS is characterized b ... more

    INEOS Oxide Ltd

    The new INEOS Oxide is more diverse than ever before; however our focus on absolute customer commitment remains unchanged. We have a simple approach to business, where responding quickly to the changing needs of our customers is underpinned by continuous improvement from empowered employee ... more