ELIX POLYMERS
Ineos' ABS plant in Tarragona is divested as part of Styrolution deal / Plans to be sold and rebranded
In order to meet the EU’s preconditions for the creation of Styrolution (Ludwigshafen / Germany; www.styrolution.com) – the 50:50 styrene joint venture between BASF (Ludwigshafen / Germany; www.basf.com) and Ineos (Lausanne / Switzerland; www.ineos.com) – the latter on 1 October 2011 awarded its ABS plant in Tarragona / Spain to its Elix Polymers (Tarragona / Spain; www.elix-polymers.com) subsidiary, which it subsequently carved out. Elix Polymers will now operate as an independent company.
When the competition authorities had approved the merger of the two group’s styrene activities earlier this year – see Plasteurope.com of 05.10.2011 – they had set the condition that the Tarragon plant be divested in order to restore competition in the European market for natural and pre-coloured ABS products.
The Tarragona-based business comprises ABS products sold under the “Lustran” and “Novodur” trademarks. Ineos said it plans to sell Elix, which has already begun the process of rebranding itself, to a third party.
When the competition authorities had approved the merger of the two group’s styrene activities earlier this year – see Plasteurope.com of 05.10.2011 – they had set the condition that the Tarragon plant be divested in order to restore competition in the European market for natural and pre-coloured ABS products.
The Tarragona-based business comprises ABS products sold under the “Lustran” and “Novodur” trademarks. Ineos said it plans to sell Elix, which has already begun the process of rebranding itself, to a third party.
06.10.2011 Plasteurope.com [220537-0]
Published on 06.10.2011
German version of this article...