1 September 2016
DETAILS
On August 26, the European Commission
approved
the acquisition of INEOS Styrenics
for the benefit of Synthos S.A.
The acquisition of the Ineos Styrenics
European Holding BV business unit
was successfully completed on August 31.
Thus the chemical company from Oświęcim
will become the European leader
on the market of expandable polystyrene (EPS).
The value of the transaction amounted to
EUR 80 million,
and its implementation is the next step
in the company's development in the field of EPS.
In early May Synthos S.A. informed
about the purchase of this company.
Then the agreement was signed with
regarding the sale of INEOS Styrenics.
So far the company has been the leader
in the production of
expandable polystyrene (EPS) in Europe, offering
high-quality product for
the construction industry and packaging.
Purchase of INEOS Styrenics will allow Synthos S.A.
to provide expandable polystyrene (EPS)
of the highest quality, as well as
maintain its position of a leader in production
of polystyrene products
among manufacturers of insulating materials.
Tomasz Piec,
Vice President of the Management Board of Synthos S.A.,
directly supervising the acquisition of
INEOS Styrenics in the company
"We are pleased that the transaction announced
a few months ago has been approved
by competent authorities.
This is yet another step in implementation
of our long-term strategy and business development.
Purchase of INEOS Styrenics will make Synthos
a production leader in another area of
the chemical industry.
Expanding the product portfolio and increasing
production capacity enable Synthos
to strengthen its position as
a significant player in the chemical market
not only in Europe, but in the world"
With the purchase of INEOS Styrenics, Synthos S.A.
will take over three production plants,
two located in northern France
(Wingles and Ribécourt) and
the third in the Netherlands (Breda). Moreover,
in Breda there is a modern technology centre
consisting of specialized research laboratory
and pilot plants, where innovative products
implemented by the company are tested.
READ MORE INEOS STYRENICS SALE
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