Issue Date: June 6, 2011
Styrolution Gets Government Stamp
The European Commission has approved the Styrolution styrenic polymers joint venture between Ineos and BASF. The new partnership will make styrene, polystyrene, acrylonitrile-butadiene-styrene (ABS), and other styrene copolymers and block copolymers. It would have had sales of $9.2 billion in 2010. To win the commission’s approval, the partners agreed to sell an ABS plant in Tarragona, Spain, that would have generated about 3% of the venture’s earnings. BASF and Ineos will retain their respective expandable polystyrene businesses. Launch of the venture is expected by the end of the year.
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