Styrenix Performance Materials Ltd.
BSE: 506222 | NSE: STYRENIX
Small Cap | Chemicals
2297.20
-44.20 (-1.89%) INEOS acquires BASF’s 50% share in Styrolution
Date: 18-11-2014Following clearance by the competition authorities, INEOS has successfully completed the purchase of BASF’s 50% share in Styrolution, a joint venture between the companies. The purchase price for the acquisition is Euro 1.1 billion. Styrolution will continue to operate as a stand-alone Business within INEOS Industries Holdings.
Styrolution, founded in October 2011 as a 50-50 joint venture between BASF and INEOS, is engaged in manufacturing and selling acrylonitrile-butadiene-styrene and styrene-acrylonitrile and other products to industries, such as consumer durables, automobiles, business machines, telecommunications, electronics, etc.