BASF and Ineos Combine Styrenics Businesses

BASF and Ineos have agreed to combine their styrenics operations into a 50-50 joint venture, Styrolution. The new company’s sales will be in excess of €5 billion/year ($6.7 billion). It will be based in Frankfurt and headed by Roberto Gualdoni, currently head of BASF’s styrenics division. Christoph de la Camp, currently CFO of Ineos Nova, will be CFO at Styrolution. BASF says it will receive a cash consideration following completion of the transaction, which is subject to approval by the relevant antitrust authorities. The partners expect the jv...

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