INEOS Enterprises completes the sale of INEOS Styrenics to Synthos S.A. for €80m
INEOS Enterprises has completed the sale of INEOS Styrenics, its Expandable Polystyrene Business (EPS), to Synthos S.A. for €80m.
The sale of the Styrenics business includes manufacturing sites at Wingles and Ribécourt in Northern France and Breda in the Netherlands. The three production sites are supported by its technology Centre in Breda, including a research laboratory and pilot plant facilities. Customer Service, Logistics and Finance groups are also located in Breda. 250 people will transfer as part of this deal.
The sale of the business, completed on Wednesday 31 August, represents an important step in the ongoing development of the EPS business. Synthos S.A. is one of the largest manufacturers of chemical raw materials in Poland. The Company was the first European manufacturer of emulsion rubbers and is a leading manufacturer of polystyrene for foaming applications.
INEOS Styrenics is a part of the INEOS Enterprises portfolio of business. INEOS Enterprises actively seeks market opportunities to acquire, develop and sell chemical businesses.
ENDS
Media contacts
Richard Longden (INEOS) +41 (0) 21 627 7063 or +41 (0) 7996 26123
Ian Fyfe (INEOS) +44 (0) 7867 906695
Agata Koœcielnik (Synthos) +48 33 847 32 03