INEOS Styrolution, the world’s leading supplier of styrene products, has recently announced that it has obtained the approval of relevant regulatory and legal bodies to complete the acquisition of Doodle polystyrene production base. The acquisition was agreed on August 31, 2018, including the acquisition of Foshan Production Base in South China and Ningbo Production Base in Zhejiang Province in East China, as well as the acquisition of two sales offices in Guangzhou and Shanghai. The annual production capacity of each production base is as high as 200,000 tons.
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The acquisition follows INEOS Styrolution’s “triple transfer” development strategy, which not only allows us to increase production plants in key Asian markets, but also to enter the domestic market through localized production.
“We will continue to implement our development strategy.” Kevin McQuade, chief executive of INEOS Styrolution, said. “This is the second successful acquisition in the Asia-Pacific region after K-Resin business acquisition and integration. We also define the Asia-Pacific region as the business focus growth area of INEOS Styrolution.
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Steve Harrington, president of INEOS Styrolution Asia Pacific, was heartened by the new opportunities offered by the acquisition: “This acquisition not only enables us to better serve existing customers in the Asia Pacific region, especially the household appliances and electronics industries, but also provides us with opportunities to explore the Chinese market.”
INEOS Styrolution
INEOS Styrolution is a leading global supplier of styrene products, focusing on styrene monomers, polystyrene, ABS general materials and styrene special materials. With excellent production equipment and over 85 years of rich experience, INEOS Styrolution can provide the best quality solutions to help customers win competitive advantage in the market and achieve success. The company provides styrene products for many industries, including automotive, electronic, household appliances, construction, health care, toys/sports/leisure and packaging. In 2018, the company’s sales reached 5.4 billion euros. INEOS Styrolution has about 3,500 employees and 20 production bases in 10 countries.
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