Ineos to buy BASF's share of Styrolution

EUROPEAN PLASTICS NEWS

Published: June 30, 2014 8:15 am ET
Updated: June 30, 2014 8:19 am ET

Image By: Ineos Ineos Chairman Jim Ratcliffe

Related to this story

Topics Materials, Mergers & Acquisitions, Materials Suppliers
Companies & Associations BASF SE

Switzerland-based Ineos Group AG has announced that it is to acquire BASF SE’s 50 percent share in Styrolution GmbH, their joint venture formed in 2011.

Ineos is set to pay 1.1 billion euros ($1.5 billion) for Germany-based BASF’s share of Styrolution. Styrolution was originally established to contain the bulk of BASF’s styrenics operations that had been under review from 2007.

The deal is subject to approval by antitrust authorities but is expected to be finalized in the fourth quarter of 2014, up until which point Styrolution will continue to operate as an independent company. The business will then become a subsidiary of Ineos.

“Styrolution has fulfilled its promise as a globally competitive business that competes effectively with large-scale producers from Asia and the Middle East. We are pleased to bring Styrolution fully into the Ineos family. After the purchase, Styrolution will be run separately as a standalone company within Ineos, and continue to operate as it does today,” said Ineos Chairman Jim Ratcliff.

In 2013, Styrolution reported sales of 5.8 billion euros ($7.9 billion). The company employs approximately 3,200 people and operates 17 production sites in ten countries.


Comments

Ineos to buy BASF's share of Styrolution

EUROPEAN PLASTICS NEWS

Published: June 30, 2014 8:15 am ET
Updated: June 30, 2014 8:19 am ET

Post Your Comments


Back to story


More stories

Image

Deal adds U.K. plant to DelStar

November 25, 2014 12:47 pm ET

Schweitzer-Mauduit International Inc. (SWM) is acquiring certain assets from the advanced wound management division of London-based Smith & Nephew...    More

Image

Onex buying packaging group SIG Combibloc

November 24, 2014 9:05 am ET

ex Corp. will buy SIG Combibloc Group, the Switzerland-based manufacturer of aseptic carton packaging and plastics closures from New Zealand's Rank...    More

Image

3D Systems buying Cimatron

November 24, 2014 1:46 pm ET

3D Systems Corp. is buying Cimatron Ltd., an Israel-based company that makes integrated computer-assisted design and manufacturing software, for $97...    More

Image

Compounding products and services

November 24, 2014 9:47 am ET

   More

Image

Dow reaches agreement with Third Point

November 21, 2014 9:11 am ET

Dow Chemical Co. has reached an agreement with the investment firm that has been trying to force the company to sell off some assets.
More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

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

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

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

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

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

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events