INEOS Styrolution acquired PS plants in China

According to a statement on its official website on 31 August 2018, INEOS Styrolution announced it has signed an acquisition agreement with France’s Total S.A to takeover two PS plants in China.

Two plants, each with the annual capacity of 200,000 tons/year, with one located in Foshan in South China and the other in Ningbo in Eastern China. However, the deals do not cover the polypropylene (PP) compounds unit located in the same site as the Ningbo plant, which would remain dedicatedly to Total.

This is the second acquisition that INEOS Styrolution made in less than two years, underlining the company’s commitment to spreading its footprint in Asia styrenic businesses. In 2016, INEOS acquired South Korean’s K-Resin from Chevron Phillips Chemical Company LLC and Daelim Industrial Co Ltd.