Engineering News

Ineos Buys Out BASF for Full Control of Styrolution JV
June 30, 2014

FRANKFURT, June 30 (Reuters) - Petrochemicals group Ineos has agreed to buy BASF's 50 percent stake in German plastics maker Styrolution for 1.1 billion euros ($1.5 billion) to take full control of the company, they said on Monday.

As part of a joint-venture agreement struck in October 2011, Ineos had the right to buy BASF's 50 percent of Styrolution, a maker of plastics used in car front grills, food packaging and Lego and Playmobil toys, from February this year onwards.

Styrolution will continue to operate as an independent company until completion of the deal, which is expected in the fourth quarter, the companies said in a joint statement.

Styrolution said in February that its adjusted core earnings jumped by almost a third in 2013, as it continued to reap the benefits of merging BASF and Ineos' two styrenic businesses.

Styrolution said at the time it was aiming for a slight increase in earnings before interest, taxes, depreciation and amortisation (EBITDA) compared to the 442 million euros chalked up in 2013. ($1 = 0.7331 euros)

Source: Reuters

Engineering News Archive

 
// CAREER RESOURCES

Applicant Procedures
Job Seekers
Resume Help
Professional Organizations
Engineering Career Information
Engineering Colleges

// WHAT WE DO
Recruiters for
Professionals in the Chemical
& Pharmaceutical Industries
We recruit exclusively for Engineers and Operations/Maintenance Management Personnel in the following areas:
Specialty chemicals
Bulk chemicals
Commodity Chemicals
Petrochemicals
Fine chemicals
Agrochemicals
Industrial gases
Surfactants
Fertilizers
Solvents
Coatings
Polymers
Pharmaceuticals
Refinery
Career Center | FAQs | Privacy
SESI Corporate Headquarters (954)755-3121 ext 109
© Search Enterprises, Inc. All rights reserved.
Industry News Career Center FAQs Submit a Job About Search Enterprises Submit a Resume Candidates Job Opportunities Search Enterprises Home