INEOS Styrolution announces agreement to acquire K-Resin® SBC Business
- INEOS Styrolution’s first acquisition substantiates its Triple Shift growth strategy
- Enhanced global footprint with SBC manufacturing sites in all regions
ineos Styrolution是苯乙串的全球领导者今天宣布，它签署了全球K树脂的收购协议®styrene-butadiene copolymers (SBC) business of Chevron Phillips Chemical Company LLC (Chevron Phillips Chemical) and Daelim Industrial Co. Ltd., the current joint venture owners. The parties have agreed not to disclose the intended purchase price or any other financial details. The transaction, subject to customary closing conditions and regulatory approvals, includes the purchase of the equity interests of K R Copolymer Co. Ltd (KRCC), K-Resin®SBC intellectual property and other assets related to the SBC business. This acquisition, once completed, will allow INEOS Styrolution to supply its customers from production sites in the Americas, EMEA and Asia Pacific.
The acquisition underlines INEOS Styrolution’s commitment to its “Triple Shift” growth strategy with a strong dedication to its styrenic specialties business, well-balanced split across all focus industries and improved global presence.
K-Resin®SBC and INEOS Styrolution’s existing SBC brands Styrolux®and Styroflex®complement each other well. The combined business will offer a broad selection of SBC products to customers across the globe. The broader SBC product portfolio will enable the combined business to better serve its customers.
“This measure marks our first acquisition and drives the further implementation of our Triple Shift growth strategy. We will strengthen our ability to offer specialty styrenics products to our customers, and increase our production capacities in Asia. Our customers will benefit from our ability to supply and support their world-wide demand from our expanded geographic footprint, with SBC manufacturing and research and development centers in all major regions, and from the well-known premium K-Resin®SBC brand,”凯文·麦克奎德说，首席执行官ineos Styrolution。“With this investment we will further enhance our global presence in styrenics.”
Chevron Phillips Chemical and Daelim Industrial Company于2000年2月创立KRCC作为合资企业。K-REP®SBC plant is located in Yeosu Petrochemical Complex, the largest petrochemical complex on the southern coast of South Korea.
“I am impressed by the quality of the production site, a formidable operation and by the strong motivation of the staff,” says Steve Harrington, President Asia Pacific, INEOS Styrolution. “We are looking forward to integrate the local Korean assets quickly into our Korean INEOS Styrolution operations.”
About INEOS Styrolution
INEOS Styrolutionis a global styrenics supplier with a focus on styrene monomer, polystyrene, ABS Standard and styrenic specialties. With world-class production facilities and more than 85 years of experience, INEOS Styrolution helps its customers succeed by offering the best possible solution, designed to give them a competitive edge in their markets. The company provides styrenic applications for many everyday products across a broad range of industries, including automotive, electronics, household, construction, healthcare, toys/sports/leisure, and packaging. In 2015, sales were at 5 billion euros. INEOS Styrolution employs approximately 3,100 people and operates 15 production sites in nine countries.
For further information, please visitwww.ineos-styrolution.com.
Vice President Corporate Communications, Investor Relations,
Advocacy and Change Management