INEOS Styrolution to acquire 2 PS plants from Total S.A.

INEOS Styrolution signed an acquisition agreement with Total S.A. for two polystyrene (PS) production sites in China. The deal includes the purchase of the wholly owned Chinese PS business including two production sites in Ningbo and Foshan and two related offices in Guangzhou and Shanghai. The acquisition underlines INEOS Styrolution’s focus on the Asian growth market. The deal will grow INEOS Styrolution’s polystyrene production capacity by 400kt per year

 

 

The transaction signals INEOS Styrolution’s first production move into China and underlines the company’s commitment to the Asian growth market, as derived from the company’s “Triple Shift” growth strategy.

 

The Foshan site is located in the Guangdong Province in South China. The Ningbo site is located in the Zhejiang Province south of Shanghai in Eastern China. The annual nameplate capacity of each site is 200kt per year.

 

The transaction is subject to approval by the regulatory authorities.