INEOS Styrolution makes its first acquisition

INEOS Styrolution, already viewed as a global leader in styrenics, has signed a deal that further strengthens its position in the world.

It has bought the global K-Resin® styrene-butadiene copolymers (SBC) business of current JV owners Chevron Phillips Chemical and Daelim Industrial Company. The plant is located in Yeosu Petrochemical Complex, the largest petrochemical complex on the southern coast of South Korea.

CEO Kevin McQuade said the acquisition – INEOS Styrolution’s first – would strengthen its ability to offer specialty styrenics products to its customers, and increase its production capacities in Asia.

“Our customers will benefit from our ability to supply and support their worldwide demand from our expanded geographic footprint, with SBC manufacturing and research and development centres in all major regions,” he said.

INEOS Styrolution currently employs about 3,100 people and operates 15 production sites in nine countries.

K-Resin® SBC and INEOS Styrolution’s existing SBC brands Styrolux® and Styroflex® complement each other well. The combined business will offer a broad selection of SBC products to customers across the globe.

The acquisition, once completed, also underlines INEOS Styrolution’s commitment to focus on measures that will expand its footprint in higher-growth industries, styrenic specialties, and emerging markets.