Ineos and BASF to Set Up Styrenics Joint Venture
Ineos Industries and BASF are to combine their respective styrenics businesses and form a joint venture, to be called Styrolution.
Styrolution will combine the two companies' businesses in styrene monomers, polystyrene, acrylonitrile butadiene styrene and styrene-butadiene block copolymers (SBC).
It will also merge other styrene-based copolymers as well as copolymer blends.
The joint venture is expected to have sales exceeding 5bn ($6.6bn) and will operate as a separate entity, equally owned by Ineos and BASF.
However, neither company will include expandable polystyrene in the transaction, and will maintain their expandable polystyrene businesses.