Styrolution Completes China Deal with Total
Germany-based Ineos Styrolution has completed its acquisition of Total’s Chinese wholly owned polystyrene business, including two production sites in Ningbo and Foshan and two related offices in Guangzhou and Shanghai belonging to the French energy and petrochemicals group Total.
The deal was announced in August 2018.
Total’s Ningbo plant, which employs 54 people, produces 200,000 t/y of PS. A facility for polypropylene compounds at the site, supplying the automotive sector, will produce exclusively for Total in future.
The Foshan plant has capacity for 200,000 t/y of PS and employs 86 people.
Steve Harrington, president of Ineos’ Asia Pacific and global styrene monomer division, called the acquisition “an important milestone for both Ineos Styrolution and the Ineos group,” as it represents its first manufacturing asset in China and provides access to the Chinese market with locally produced material.
In addition, Harrington said, “the two new plants provide us with a platform to further develop our manufacturing base in China.”
