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INEOS Styrolution is a global styrenics supplier and is headquartered in Germany. It is a subcompany of INEOS and provides styrenics applications for many everyday products across a broad range of industries, including automotive, electronics, household, construction, healthcare, packaging and toys/sports/leisure.
 | |
| Company type | Subcompany of INEOS |
|---|---|
| Industry | Chemicals |
Number of locations | Frankfurt am Main, Germany (global and European headquarters), Aurora, Illinois, United States (regional headquarters Americas), Singapore (regional headquarters Asia-Pacific) |
Key people | Kevin McQuade (Chairman), Steve Harrington (CEO), John van Oorschot (CFO), Rob Buntinx (President, EMEA), Greg Fordyce (President, Americas), Jui Seng Tay (President APAC), Pierre Minguet (President Operations) |
| Products | Styrenics |
| Revenue | €6.6 billion (sales 2022) |
Number of employees | 3,100 (2022) |
| Website | www.ineos-styrolution.com |
Headquarters and sites
editStyrolution employs around 3,100 people. The global and European headquarters is situated in Frankfurt am Main, Germany, regional headquarters are located in Aurora, Illinois (United States) and Singapore.[1] Styrolution operates 16 manufacturing sites across nine countries:[2] Germany (Ludwigshafen, Schwarzheide, Cologne), Belgium (Antwerp), China (Foshan, Ningbo), France (Wingles), Korea (Ulsan, Yeosu), Thailand (Map Ta Phut), the United States (Channahon, Decatur, Texas City, Bayport), Canada (Sarnia) and Mexico (Altamira).
Product portfolio
editStyrolution offers various styrenics commodity and specialty product types, i.e. styrene monomer (SM), polystyrene (PS), acrylonitrile butadiene styrene (ABS), styrene-butadiene block copolymers (SBC), other styrene-based copolymers (SAN, AMSAN, ASA, MABS), and copolymer blends. Styrenics are thermoplastics.
Styrene monomer (SM) is an intermediate product. It is a colorless liquid that polymerizes easily.
Polystyrene (PS) is a thermoplastic resin that is used in many applications, such as disposable packaging, electronic devices, large appliances (for example in refrigeration liners) and household goods.
Acrylonitrile butadiene styrene (ABS) is a thermoplastic resin, used primarily in colored products that need to be heat and impact-resistant, such as vacuum cleaners or power tools. It is also commonly found in vehicles, mobile phone housings and recreational goods.
Styrene-butadiene block copolymer (SBC) is a thermoplastic resin that is transparent and impact-resistant. It is used to provide a high optical appearance and is mostly found in food and display packaging.
Styrene-based copolymers (SAN, AMSAN, ASA, MABS) and blends (ABS/PA, ASA/PA, ASA/PC) are thermoplastic resins that are mainly used in various technical applications, such as vehicles, garden equipment, tools, appliances, consumer electronics, communications devices and computers.
Broad range of sustainable ECO products, either based on recycling or on renewable feedstock. ECO products cover all above product families.
Corporate history
editStyrolution was founded in October 2011 as a 50-50 joint venture between BASF and INEOS. It has more than 85 years of experience in the styrenics industry.
April 8, 2011: The formation of the joint venture is approved by the U.S. Federal Trade Commission (FTC) without any remedies.[3]
May 12, 2011: Styrolution places a 480 million Euro bond due 2016 on the capital market.[4]
May 27, 2011: BASF and INEOS sign a joint venture contract, which regulates the formation of the joint venture company Styrolution.
June 1, 2011: The EU Commission approves the formation of the joint venture Styrolution. It gives its approval subject to the requirement that the parties sell an ABS production site in Tarragona, Spain. This site accounted for less than 3% of Styrolution’s pro forma EBITDA before exceptionals for the year 2010.[5]
October 1, 2011: Styrolution officially starts operating as an independent company, following the approval of the relevant antitrust authorities.
November 30, 2011: BASF and INEOS sign a letter of intent for a joint venture combining their key styrenics assets.
June 30, 2014: Joint statement that INEOS takes over the 50% stake of BASF SE for a purchase price of €1.1bn.[6][7]
November 17, 2014: Styrolution becomes wholly owned by INEOS.
January 18, 2016: To embrace its place in the INEOS family of companies, Styrolution announces that it has changed its company name to INEOS Styrolution.[8][9]
February 1, 2022: It was announced that INEOS Styrolution had concluded a joint agreement for Ensinger to acquire its StyLight thermoplastic composite materials business.[10]
July 2022: ABS joint venture announced with SINOPEC as part of a $7bn deal between Ineos and SINOPEC
November 2023: Inauguration of 600,000 tonnes world-scale ABS plant in Ningbo, China
See also
editReferences
edit- ^ "INEOS Styrolution Locations". www.ineos-styrolution.com. Retrieved 2023-02-27.
- ^ "INEOS Styrolution Company". www.ineos-styrolution.com. Retrieved 2023-02-27.
- ^ "Latest Packaging Industry News & Design Updates - Packaging News".
- ^ "Chem Ideas :: Vincent Valk :: Chemical Week".
- ^ Interpack: com: EU Commission approves formation of joint venture Styrolution, June 13, 2011 Archived May 15, 2012, at the Wayback Machine* Styrolution.com: Corporate website international
- ^ "BASF steigt für 1,1 Milliarden Euro aus Kunststoff-Firma Styrolution aus".
- ^ "Ludwigshafen: BASF verkauft Styrolution-Anteil für 1,1 Milliarden Euro - Newsticker überregional". www.mannheimer-morgen.de (in German). Retrieved 2023-02-27.
- ^ "Styrolution Portal".
- ^ "Styrolution Portal". www.ineos-styrolution.com. Retrieved 2023-02-27.
- ^ "Ensinger acquires StyLight from INEOS Styrolution". Interplas Insights. 2022-02-01. Retrieved 2022-02-01.