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

ISO publishes international standard for measuring phthalates in toys

August 19, 2014 10:40 am ET

The Geneva-based International Organization for Standardization (ISO) has published an international standard on phthalates used as plasticizers in...    More

Image

RTP expands very long fiber thermoplastic production to Mexico

August 19, 2014 9:47 am ET

RTP Co. has introduced very long fiber reinforced compounds at its Monterrey, Mexico, facility.    More

Image

Mauser opening joint venture in Mexico

August 18, 2014 1:27 pm ET

Mauser USA is teaming with Servicios Ambeintales Internacionales to open a new intermediate bulk container joint venture in Mexico that will include...    More

Image

Ineos takes its first step into UK shale exploration

August 18, 2014 1:15 pm ET

Ineos Group AG has moved into United Kingdom shale exploration with the purchase of BG Group’s 51 percent share of the shale section of a joint ...    More

Image

Construction firm invests in bioplastics maker Meredian

August 15, 2014 10:22 am ET

Bioplastics maker Meredian Inc. didn't have to go far to find a new investor.    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events