Issue Date: January 9, 2012
Styrolution Unit Goes To Sun Capital
Styrolution has sold Elix Polymers, its acrylonitrile-butadiene-styrene operation in Tarragona, Spain, to the European affiliate of Sun Capital Partners for an undisclosed sum. Elix is expected to have sales this year of about $250 million. Styrolution is a 50-50 styrenics joint venture formed last year by BASF and Ineos. Regulators required the sale of the Tarragona plant as a condition of approving the venture. Sun Capital already owns the U.S. chemical businesses Emerald Performance Materials and Sonneborn. In 2010, it bought a DSM benzoates plant in the Netherlands.
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