BASF, Ineos to merge styrene activities

ERJ staff report (DS)

Ludwigshafen, Germany - BASF SE and Ineos Industries Holdings Limited have signed a 50-50 joint venture contract to form a joint venture company Styrolution. The establishment of the joint venture is subject to approval by the appropriate antitrust authorities.

BASF and Ineos plan to combine 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 into the new joint venture called Styrolution. The business with expandable polystyrene is not part of the transaction. BASF and INEOS will retain their respective businesses.

BASF intends to contribute its SM, PS, ABS, SBC and styrene-based copolymers businesses in the joint venture. This includes production plants located in Germany (Ludwigshafen, Schwarzheide), Belgium (Antwerp), Korea (Ulsan), India (Dahej) and Mexico (Altamira). BASF employs approximately 1,460 people in its styrenics business and generated sales of about €3.9 billion in 2010.

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Press release from Ineos