China: Business Deal Ineos Styrolution Acquires Two Polystyrene Sites from Total
The move supports the company’s ‘Triple Shift’ growth strategy and includes the acquisition of the Foshan site in the Guangdong Province in South China and the Ningbo site in the Zhejiang Province in Eastern China.
China – Ineos Styrolution has recently announced the completion of the acquisition of the polystyrene sites from Total, following receipt of all applicable regulatory and legal approvals. The transaction, which was agreed on August 31, 2018, includes the purchase of the Foshan site in the Guangdong Province in South China and the Ningbo site in the Zhejiang Province in Eastern China and two related sales offices in Guangzhou and Shanghai. The annual nameplate capacity of each site is 200 kt per year.
The transaction supports Ineos Styrolution’s Triple Shift growth strategy, as it will increase the company’s manufacturing footprint in Asia, and provides access to the domestic market in China with locally produced materials.