Europe/Korea: Mergers & Acquisitions Ineos to Acquire K-Resin Business from Chevron Phillips
Ineos’ Styrolution business expands its portfolio with the acquisition of Chevron Phillips’ and Daelim’s K-Resin styrene-butadiene copolymers (SBC) activities. This strategic takeover shall enhance the companies footprints, giving it operating SBC manufacturing sites in all regions.
Frankfurt/Germany, Seoul/Korea – Styrenics producer Ineos Styrolotiun has found an agreement with Chevron Phillips Chemicals and Daelim to take over the global K-Resin styrene-butadiene copolymers (SBC) business for an undisclosed amount. This acquisition underlines Ineos Styrolution’s commitment to its “Triple Shift” growth strategy with a strong dedication to its styrenic specialties business, well-balanced split across all focus industries and improved global presence, speakers explained.
K-Resin and Ineos’ existing SBC brands complement each other well: The combined business will offer a broad selection of SBC products to customers across the globe. The broader SBC product portfolio will enable the combined business to better serve its customers.
“We will strengthen our ability to offer specialty styrenics products to our customers, and increase our production capacities in Asia. Our customers will benefit from our ability to supply and support their world-wide demand from our expanded geographic footprint, with SBC manufacturing and research and development centers in all major regions,” says Kevin McQuade, CEO Ineos Styrolution. “With this investment we will further enhance our global presence in styrenics.”
Chevron Phillips Chemical and Daelim Industrial Company founded KRCC as a joint-venture in February 2000. The K-Resin SBC plant is located in Yeosu Petrochemical Complex, the largest petrochemical complex on the southern coast of South Korea.