INEOS Styrolution completes acquisition of two polystyrene sites in China

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INEOS Styrolution, the world leader in styrenics, announced the completion of the acquisition of polystyrene sites from Total S.A. after all applicable regulatory and legal approvals have been received. The transaction, which was agreed on 31 August 2018, includes the purchase of the Foshan site in South China’s Guangdong Province and the Ningbo site in Eastern China’s Zhejiang Province and two related sales offices in Guangzhou and Shanghai. Each site’s annual nameplate capacity is 200kt per year.

The transaction supports the Triple Shift growth strategy of INEOS Styrolution, as it will increase the production footprint of the company in Asia and provide access to the Chinese domestic market with locally produced materials.

“We continue to execute on our growth strategy,” comments Kevin McQuade, CEO INEOS Styrolution. “After the integration of the K-Resin business, the current deal marks our second acquisition in Asia, a region that we have identified as a focus growth region for INEOS Styrolution.”

Steve Harrington, President Asia-Pacific, is excited about the new opportunities afforded by this transaction: “Not only does this deal allow us to better serve our existing customers in the region, especially in the Household and Electronics industries; it also provides us access to the broader market in China.”

About:
INEOS Styrolution is the world’s leading supplier of styrene with a focus on monomer styrene, polystyrene, ABS Standard and styrene. With world-class manufacturing facilities and more than 85 years of experience, INEOS Styrolution helps its customers succeed by providing the best possible solution to give them a competitive edge in their markets. The company offers styrene applications for many daily products in a wide range of industries, including automotive, electronics, households, construction, health, packaging and toys / sports / leisure. Sales in 2018 were € 5.4 billion. INEOS Styrolution employs about 3,500 people and operates 20 production sites in ten countries..