Styrolution
 | |
| Subcompany of INEOS | |
| Industry | Chemicals |
Number of locations | Frankfurt am Main, Germany (global and European headquarters), Aurora, Illinois, USA (regional headquarters Americas), Singapore (regional headquarters Asia-Pacific) |
Key people | Kevin McQuade (CEO), Christoph de la Camp (CFO), Rob Buntinx (President, EMEA), Alexander Glück (President, Americas), Steve Harrington (President, Global Styrene Monomer / President, Asia Pacific), Pierre Minguet (President of Operations), Hyung Tae Chang (President, Asia Pacific - to retire effective July 2015) |
| Products | Styrenics |
| Revenue | €5.4 billion (sales 2014) [1] |
Number of employees | 3,100 (2015) |
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, electrical/electronics, building and construction, household appliances, toys/sports/leisure, packaging, healthcare and diagnostics. In 2014, sales were at 5.4 billion euros, resulting in an EBITDA before exceptionals of 391 million euros.[1]
Headquarters and sites
Styrolution employs around 3,100 people. The global and European headquarters is situated in Frankfurt am Main, Germany, regional headquarters are located in Aurora, Illinois (USA) and Singapore. Styrolution operates 15 manufacturing sites across nine countries: Germany (Ludwigshafen, Schwarzheide, Cologne), Belgium (Antwerp), France (Wingles), Korea (Ulsan), India (Dahej, Vadodara), Thailand (Map Ta Phut), the USA (Channahon, Decatur, Texas City, Bayport), Canada (Sarnia) and Mexico (Altamira).
Product portfolio
Styrolution 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.
Corporate history
Styrolution was founded in October 2011 as a 50-50 joint venture between BASF and INEOS.
October 1, 2011: Styrolution officially starts operating as an independent company, following the approval of the relevant antitrust authorities.
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.[2]
May 27, 2011: BASF and INEOS sign a joint venture contract, which regulates the formation of the joint venture company Styrolution.
May 12, 2011: Styrolution places a 480 million Euro bond due 2016 on the capital market.[3]
April 8, 2011: The formation of the joint venture is approved by the U.S. Federal Trade Commission (FTC) without any remedies.[4]
November 30, 2010: 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.
References
- ↑ 1.0 1.1 "About Styrolution". Business Wire. Retrieved 8 April 2015.
- ↑ Interpack: com: EU Commission approves formation of joint venture Styrolution, June 13, 2011* Styrolution.com: Corporate website international
- ↑ Chemweek.com: Chemical Finance Digest, October 18, 2011
- ↑ Packagingnews.co.uk: Green light for €6.4bn BASF-Ineos styrenics merger