BASF and INEOS to Establish Joint Venture Styrene Business
BASF and INEOS Industries Holdings have signed an agreement to establish a joint venture company to produce styrene.
The new entity, to be known as Styrolution, will combine the two companies' global business activities in styrene monomers, polystyrene and other styrene-based products.
Both will take a 50% stake in the newly formed entity.
BASF will contribute its SM, PS, ABS, SBC and styrene-based copolymers businesses, whereas INEOS will put forward its ABS production plants at sites in Germany, Spain, India and Thailand to the joint venture.
BASF and INEOS will continue to operate their independent companies until the completion of the deal expected in 2011.
The expandable polystyrene sector is not part of the transaction, and will remain within the respective companies.
Styrenics are mainly used for household and office products, for electrical and communication devices and for packaging.
Styrene-based copolymers are used in the automotive and technical industries as well as for many everyday products.