Styrenics joint venture begins operations
Styrolution, which was approved by the European Commission earlier this year, has allowed BASF and INEOS to combine their key styrenics assets and activities in order to challenge suppliers in the Middle East and Asia.
INEOS spokesman Richard Longden previously told FoodProductionDaily.com: “We wanted to create a business that will raise competitiveness in a market that is seeing the increasing presence of large operators from the Middle East and Asia.”
Strong leader
Styrolution is devoted entirely to the supply of styrenics, which are used across a range of sectors - including in the production of food packaging.
Reflecting on the venture, Styrosolution CEO Roberto Gauldoni said: “Our objective as a company is to be and remain a strong leader in our markets globally, and we are excellently positioned for profitable growth and long-term success.”
The company said it holds number one market positions in the supply of styrene monomer (SM), polystyrene (PS), styrene-butadiene block copolymers (SBC), other styrene-based copolymers (SAN, AMSAN, ADA and MABS) and copolymer blends.
It also holds a world number two position in the supply of acrylonitrile butadiene styrene (ABS).
Combined assets
Styrolution, which has 17 manufacturing sites worldwide and employs around 3,400 people, has an output capacity of 6.3 million tonnes.
As part of the venture, BASF have contributed SM, PS, ABS, SBC and styrene-based copolymer production plants in Germany, Belgium, Korea, India and Mexico.
INEOS will contribute ABS plants at sites in Germany, Spain, India, Thailand, and SM and PS facilities in Canada, the US, Germany, France and Sweden.
In 2010, before the joint venture began operations, the companies had combined sales of €6.4bn.
