WEB EXCLUSIVE: BASF SE in Germany and Ineos Industries Holdings Ltd. in the U.K. are proceeding toward combining their styrenics businesses and production facilities into a joint venture later this year.
WEB EXCLUSIVE: BASF SE in Germany and Ineos Industries Holdings Ltd. in the U.K. are proceeding toward combining their styrenics businesses and production facilities into a joint venture later this year. The contract was signed on May 27 for a new venture to be called Styrolution, which was launched at the start of this year as a separate company within the BASF Group. (Styrolution USA LLC is in Wyandotte, Mich.) It already contains BASF’s PS, ABS, ASA, SAN, SBC, and other styrenic copolymers and blends, as well as styrene monomer. When the 50:50 joint venture is completed, Ineos will contribute its similar activities to Styrolution. BASF and Ineos will retain their separate EPS businesses outside of Styrolution. On June 1, the EU Commission have approved the deal, which was already approved by the U.S. Federal Trade Commission, though antitrust authorities in other countries have yet to rule on it.
