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INEOS Styrolution has recently come to an agreement with Total S.A. willing to buy out a polystyrene business unit located in mainland China. It includes 2 productive facilities in Ningbo and Foshan as well as 2 offices in Shanghai and Guangzhou.
The acquisition was planned in line with INEOS Styrolution's established growth strategy emphasizing the importance of the ever-rising Asian market. The 2 plants will be the company's first industrial assets in China and the second recent acquisition in the Asia-Pacific region after purchasing the K-Resin SBC plant, located in South Korea (Yeosu Petrochemical Complex) last year.
According to INEOS Styrolution's management, the demand for polystyrene is going up in the region and each of the new facilities will be able to produce up to 200kt of high quality material per year.
The acquisition is yet to be approved by the local authorities. Nevertheless the global manufacturer is already looking forward to further expansion.
About the company
INEOS Styrolution is the global styrenics supplier with a focus on styrene monomer, polystyrene, ABS Standard and styrenic specialties. The company provides styrenic applications for many everyday products across a broad range of industries, including Automotive, Electronics, Household, Construction, Healthcare, Packaging and Toys/ Sports/ Leisure. In 2017, sales were at 5.3 billion euros. INEOS Styrolution employs approximately 3,300 people and operates 18 production sites in nine countries.
