BASF/Ineos styrenics joint venture
Styrolution starts operation
The 50:50 Styrolution joint venture between the styrenics businesses of BASF SE and Ineos AG started operations October 1 after receiving the relevant approvals from the anti-competition authorities, the company said in a statement Tuesday.
The newly formed styrenics business will combine the Cologne, Germany ABS site, styrene monomer, polystyrene, styrene-butadiene block copolymer and other styrene-based copolymer businesses.
The Tarragona 180,000 mt/year ABS business in Spain has been renamed and will operate as Elix as part of the Ineos ABS group but will be sold, an Ineos ABS source said on Sunday.
The European Commission has cleared the formation of Styrolution as a 50:50 joint venture of BASF and Ineos. In return, the anti-trust authority said Ineos must sell its ABS production facilities at Tarragona / Spain, which it acquired in full from Lanxess in late 2007. US authorities have already approved the plans.
October 4, 2011 Styrolution
Official launch of Styrolution joint venture
New leading styrenics supplier starts operations
On October 1st , 2011 Styrolution officially started operating as an independent company, following the approval of the relevant antitrust authorities. The new company is a 50:50 joint venture between BASF and INEOS, comprising the key styrenics activities of the two partners. Styrolution is the world’s leading styrenics supplier.
Styrolution is the only one of the key players dedicated entirely to styrenics, and a strong leader in the market. It holds global number one positions in styrene monomer (SM), polystyrene (PS), styrene-butadiene block copolymers (SBC), other styrene-based copolymers (SAN, AMSAN, ASA, MABS) and copolymer blends, and a number two position in acrylonitrile butadiene styrene (ABS).
- Styrene monomers (SM)
- Polystyrene (PS)
- Acrylonitrile butadiene styrene (ABS)
- Styrene-butadiene block copolymers (SBC)
- Other styrene-based copolymers (SAN, AMSAN, ASA, MABS)
- Copolymer blends (ABS/PA, ASA/PA, ASA/PC)
Global number one in styrene monomers, polystyrene, and copolymers, and
number two in ABS (source: Nexant 2011, using 2010 capacity data).
Giving customers a competitive edge in their
Says Styrolution's CEO Roberto Gualdoni: “Using different business models to serve the different needs of the commodity and specialty styrenics markets, we are determined to give our customers a competitive edge. Our highly professional and passionate team around the world works diligently to deliver the best and most efficient solutions to drive the success of our customers – with fast and reliable supply, the highest product quality and consistency, constant innovation, and a professional service. This is in our corporate DNA and is reflected in our company name, which is a combination of the words „styrenics" and „solution". Our objective as a company is to be and remain a strong leader in our markets globally, and we are excellently positioned for profitable growth and long-term success.”
Global presence and industry-benchmark manufacturing sites
With its global and regional headquarters in Frankfurt, Germany and regional headquarters in Channahon (USA) and Singapore, Styrolution has a global market presence, which allows it to always be close to its customers and to serve their needs in the best possible way. The company employs around 3,400 people, and its 17 manufacturing sites across ten countries represent industry benchmarks and are among the most efficient in the world. With best-in-class production technology, leading R&D skills and strong IP and patents positions, Styrolution is perfectly equipped to ensure top quality, efficiency and innovation.
Styrolution is the leading global styrenics supplier with a focus on styrene monomer, polystyrene, copolymers, and ABS. As a joint venture of BASF and INEOS, Styrolution combines the key styrenics assets of two of the biggest chemical companies in the world – with more than 70 years of experience, complementary competencies and portfolios. Styrolution strives to serve the success of its customers by offering them the best possible solution, designed to give them a competitive edge in their markets. The company provides styrenics applications for many everyday products across a broad range of industries, including automotive, electrical/electronics, building and construction, household appliances, toys/sports/leisure, packaging, healthcare and diagnostics. In 2010, pro forma combined sales were at 6.4 billion euros, resulting in an EBITDA before exceptionals of 407 million euros. Styrolution employs about 3,400 people at 17 sites in ten countries.
Styrolution and Braskem to explore ABS joint
venture in Brazil
New joint venture would be only producer of ABS and SAN specialties in South America
The proposed 100 kt production facility in Brazil would offer customers from a range of growth industries localized service and security of supply
2011/10/11 BASFとIneosのスチレン事業を統合した Styrolution がスタート
Styrolution, the global leader in styrenics,
and Braskem, the largest producer of thermoplastic resins in America and a
global leader in biopolymers, today announced the signing of a memorandum of
understanding (MOU) to investigate the formation of a joint venture in Brazil.
The proposed 100 kt plant would supply specialty
styrenics, acrylonitrile butadiene styrene (ABS) and
styrene acrylonitrile (SAN) copolymers, to customers in Brazil and
throughout South America.
With a population of over 200 million and an estimated gross domestic product of over USD $2.3 trillion, the Brazilian market is robust. In recent years, Brazil has seen significant growth in the household appliance and automotive industries, both of which are key consumers of the specialty styrenics the joint venture would produce. Traditionally, ABS and SAN have been imported into the region by styrenics providers like Styrolution. The new company would seek to capitalize on the favorable market dynamics to create a domestic and regional producer offering customers more localized service and greater security of supply.
Styrolution's contribution to the proposed joint venture would include its expertise in the development and production of styrenics, the industry's broadest styrenics product portfolio, technology licensing and its existing business in the region. As the region's top petrochemical company, Braskem would provide its knowledge of the local and regional markets, supply chain infrastructure and the site for the production facility.
The consummation of the joint venture is subject to regulatory and antitrust approvals. It is planned that Styrolution would be the majority shareholder with 70 percent and Braskem holding 30 percent. Subject to an agreement by both parties to proceed and provided relevant approvals are obtained, groundbreaking for the site could be expected as early as 2015 with production likely starting in 2017.
"Styrolution recently unveiled a new strategy which calls for a shift in three areas of our business, namely expanding our footprint in emerging markets, growing our specialty styrenics business and focusing on select, higher-growth industries," says Roberto Gualdoni, CEO, Styrolution. "For Styrolution, this proposed joint venture ticks all the boxes and we are pleased to be partnering with Braskem to explore the opportunities this could afford us."
The proposed partnership would be an important step towards strengthening the petrochemical sector in Brazil. It would also aid in the development of domestic business opportunities in areas such as ABS, where our country is currently dependent upon imports, attracting new investments to the derived value chains," says Carlos Fadigas, CEO, Braskem. "Relying upon the expertise of Styrolution in specialty styrenics, we hope to design the best solution to make this important project viable."