MOSCOW (MRC) -- Ineos’ Styrolution business, the global leader in styrenics and Ineos ABS, the largest fully integrated producer of acrylonitrile butadiene styrene (ABS) in North America are to bring together their business activities in the Americas, said the company in its press release.
Both are wholly owned Ineos companies.
Customers in the Americas will benefit from the combined strength of the standard and specialty ABS portfolios, as well as other styrenic specialties. In addition, customers will further profit from the polymer expertise Styrolution and Ineos ABS offer in key customer industries, such as automotive and healthcare.
This move will not only enrich Styrolution’s standard and specialty ABS offering to customers but it also establishes Styrolution as the clear market leader in ABS in the Americas. The company aims to implement the integration measures by the end of 2015.
The planned integration also helps to drive two key components of Styrolution’s Triple Shift strategy, namely bolstering the company’s market position in styrenic specialties and standard ABS, as well expanding the company’s position in higher growth customer industries. Triple Shift further calls for a third component, namely the expansion of Styrolution’s global footprint in emerging markets.
Alexander Gluck, President Americas, Styrolution: "We are looking forward to a unified market approach with our colleagues at Ineos ABS. The combination of our businesses will better serve customers, who will benefit from the rich product and service offerings of both companies, as well as our collective polymer expertise across key industries. I am also confident this move will open up a host of new growth opportunities for both customers and Styrolution, giving us a chance to show what 'Driving Success. Together.' really means."
Andy Currie, Director, Ineos Capital and Chairman, Styrolution: "Now that Styrolution is a full-fledged member of INEOS, the integration of our two businesses makes perfect sense and presents tremendous opportunities for growth. Together as Styrolution, Ineos offer a one-stop styrenics shop to customers. It is something that no other company can offer on this scale and that is powerful for us and our customers."
As MRC wrote previously, in mid-November 2014, following clearance by the competition authorities, Ineos successfully completed the purchase of BASF’s 50% share in Styrolution, a joint venture between the companies. The purchase price for the acquisition is EUR1.1 billion. Styrolution continued to operate as a stand-alone Business within Ineos Industries Holdings Limited.
Ineos is a global manufacturer of petrochemicals, speciality chemicals and oil products. It comprises 15 businesses each with a major chemical company heritage. Its production network spans 65 manufacturing facilities in 16 countries throughout the world, employing 17000 people.
Styrolution is the leading, global styrenics supplier with a focus on styrene monomer, polystyrene, ABS Standard and styrenic specialties. With world-class production facilities and more than 80 years of experience, Styrolution helps its customers succeed by offering the best possible solution, designed to give them a competitive edge in their markets. The company provides styrenic applications for many everyday products across a broad range of industries, including automotive, electronics, household, construction, healthcare, toys/sports/leisure, and packaging. In 2014, sales were at EUR5.4 billion. Styrolution employs approximately 3,100 people and operates 15 production sites in nine countries.
Ineos ABS (USA) is the largest producer of SAN (styrene-acrylonitrile polymers), the second largest producer of ABS (acrylonitrile-butadiene-styrene polymers), and the leading regional producer of SMA (styrene-maleic anhydride polymers) in North America. It provides a comprehensive portfolio of high quality ABS, SAN and SMA polymers.
MRC