Styrenix Performance Materials acquires 36.13% shareholding in Clean Max Jasper

Styrenix Performance Materials has completed the acquisition of 36.13% shareholding i.e. 3,613 equity shares of Clean Max Jasper (CMJPL) on February 18, 2025. The acquisition is for complying with regulatory requirements related to captive power consumption under electricity laws and for the purposes of meeting the company’s green energy needs, optimising energy cost. CMJPL shall offer the captive open access model to supply power to the company, in the state of Gujarat. 

Earlier, the company had entered into definitive agreements to acquire 36.13% equity shares of CMJPL.

Styrenix Performance Materials is the number one producer of Absolac (ABS) and Absolan (SAN) in India. ABS is a plastic resin produced from acrylonitrile, butadiene and styrene, used for manufacturing home appliances, automobiles, consumer durables and machinery.