Big Polymer Deals Are Completed

Two large deals in the polymer world have been completed. Ineos and BASF have completed the formation of the Styrolution joint venture. The partnership makes styrenic resins such as polystyrene, acrylonitrile-butadiene-styrene, and styrene block copolymers. The combined business had 2010 sales of $8.5 billion. Separately, Brazil’s Braskem has completed its $340 million purchase of Dow Chemical’s polypropylene business. The company purchased Sunoco’s polypropylene business last year. Braskem claims that its 1.4 million metric tons of annual capacity make it the largest U.S. producer of polypropylene.