Styrolution and Braskem in Brazilian Styrenics JV
Styrolution, the Frankfurt, Germany-based styrenics joint venture of BASF and Ineos, has signed a memorandum of understanding (MoU) with Brazilian plastics giant Braskem on a 100,000 t/y plant for styrenics specialties and copolymers ABS and SAN to be built in Brazil and pencilled in to go on stream in 2017.
The facility, which the partners claim would be the sole producer of ABS and SAN specialities, in South America, would supply customers in the South American household appliances and automotive sectors. It is planned to be operated by a 70:30 joint venture majority owned by Styrolution, with the German company contributing its technology and polymers portfolio, with the Brazilian partner providing knowledge of the local and regional markets, supply chain infrastructure and as yet undisclosed site for the project.
Building on Styrolution's recently announced strategy to expand its footprint in emerging markets, grow its specialty styrenics business and focus on select, higher-growth industries, the proposed jv "ticks all the boxes," said CEO Roberto Gualdoni.
The partnership would be an important step towards strengthening the petrochemical sector in Brazil, said Braskem CEO Carlos Fadigas, adding that it would create opportunities for the country to gain independence from imports in markets such as ABS.
