EU Commission approves formation joint venture Styrolution

EU Commission approves formation of joint venture Styrolution

11:42 AM, 2nd June 2011
EU Commission approves formation of joint venture Styrolution

  • BASF and INEOS Industries to combine their global styrenics businesses
  • Joint venture to be a leader in the global styrenics market
  • Remedy relates to ABS production site in Spain



LUDWIGSHAFEN, GERMANY/LYNDHURST, UK: The EU Commission has approved the formation of the joint venture Styrolution. BASF and Ineos Industries Holdings Limited, now have EU clearance to combine in Styrolution 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. Pro forma sales of the combined businesses were € 6.4 billion in 2010. Expandable polystyrene is not part of this transaction. BASF and Ineos will retain their respective businesses.


With Styrolution, BASF and INEOS will establish a leading company in the global styrenics market. Styrolution has an excellent global position with production sites in Europe, Asia and North America.


The EU Commission has approved the formation of the joint venture subject to the requirement that the parties sell an ABS production site in Tarragona, Spain. This site accounted for less than 3 per cent of Styrolution’s pro forma EBITDA for the year 2010. The formation of the new joint venture has already been approved by the US Federal Trade Commission without any remedies.


BASF and INEOS will continue to operate as strictly independent companies until the completion of the deal, which is anticipated in 2011, subject to remaining approvals from antitrust authorities in other countries.

(C) WOC News




Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Linde, Daimler move ahead with infrastructure for fuel-cell vehicles

Joint project agreed to build 20 hydrogen (H2) filling stations in Germany Significant contribution for Germany as the lead market for electromobil ...

Read more
PPG acquires Ducol Coatings in South Africa

  Ducol Coatings South Africa (PTY) Ltd has been an importer and distributor of PPG’s automotive refinish products in South Africa.The tra ...

Read more
Ube, Samsung JV to produce substrate materials for displays

  TOKYO, JAPAN: Ube Industries Ltd and Samsung Mobile Display Co Ltd (SMD) have established a joint venture to manufacture polyimide for substra ...

Read more
OCI to be listed on Singapore bourse

  SEOUL, SOUTH KOREA: OCI, the world’s second-biggest polysilicon manufacturer, Wednesday confirmed its plan to be listed on the Singapore ...

Read more
ZeaChem and P&G to jointly research products for green packaging

KANSAS CITY, US: Procter & Gamble Company has inked a deal with cellulosic ethanol start-up ZeaChem Inc to convert plant material and other biomas ...

Read more
S-OIL doubles para xylene and benzene capacity at Onsan

The company expands its future growth engines through the completion of “Onsan refinery expansion project” with a total investment of 1. ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X