Ineos to ponder sole ownership of Styrolution

PRW

Published: August 29, 2013 11:48 am ET

Related to this story

Topics Materials Suppliers Joint Venture
Companies & Associations BASF SE

FRANKFURT, GERMANY — Ineos Group could be set to exercise an option to buy out Ludwigshafen, Germany-based BASF SE from the firms' Styrolution Group GmbH joint venture.

"I consider Ineos to be very interested. That has been voiced clearly," said Roberto Gualdoni, Styrolution's chief executive, during a media briefing.

The joint owners have agreed, he said, that any deal would value the company at a fixed multiple of adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), although that multiple has not been revealed.

Frankfurt-based Styrolution reported sales of 6 billion euros last year (about $8 billion at current exchange rates) and there are clear signs that the company will improve on that figure, so it could benefit Ineos to make the purchase as soon as possible.

"The decision on a sale will be made depending on how much trust there is in my words. But I believe our credibility is quite high," Gualdoni added. "BASF has already said they want to exit, so that is just a matter of time."

According to media reports, Lyndhurst, England-based Ineos claimed not to have made any decision about exercising its purchase option.


Comments

Ineos to ponder sole ownership of Styrolution

PRW

Published: August 29, 2013 11:48 am ET

Post Your Comments


Back to story


More stories

Image

Fire at Texas plant could impact polypropylene market

April 1, 2015 11:21 am ET

UPDATED — No injuries were reported in a March 30 fire at an ExxonMobil Chemical propylene unit in Beaumont, Texas — but the incident...    More

Image

Solegear raising funds as it debuts on TSX Venture stock exchange

April 1, 2015 11:08 am ET

A fledgling bioplastics company has raised capital for growth and obtained a listing on the TSX Venture stock exchange.    More

Image

Lanxess merges PU additives into Rhein Chemie division

April 1, 2015 9:17 am ET

German resin company Lanxess AG has combined the activities of the former Rhein Chemie and its Lanxess functional additives business into a new Rhein ...    More

Image

North American Pipe unit lab to focus on 'modern, innovative' formulations

March 31, 2015 3:25 pm ET

North American Specialty Products LLC — a unit of North American Pipe Corp. — has opened a new material science lab in Leola, Pa.    More

Image

Polymer Additives, Lubrizol expansions win tax incentives

March 31, 2015 10:22 am ET

Proposed expansions by Polymer Additives Inc. in Cuyahoga County, Ohio, and Lubrizol Corp. in Lake County, Ohio, were among 12 projects statewide that...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events