January 19, 2016 Updated 1/19/2016
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PRW
Joe Wilssens Styrolution CEO Kevin McQuade at the company’s NPE 2015 booth in Orlando, Fla.
Styrolution GmbH’s integration under its new owner is complete with the announcement that it will be rebranded as Ineos Styrolution Group GmbH.
Styrolution was founded in October 2011 as a joint venture between Germany’s BASF SE and Ineos of Rolle, Switzerland. In November 2014, Ineos bought out BASF’s 50 percent share — making Styrolution a wholly-owned, standalone company within Ineos.
Ineos Styrolution supplies styrenics with a focus on styrene monomer, polystyrene, ABS and styrenic products.
In 2014, Styrolution posted sales of 5.4 billions euros ($ 5.8 billion). Ineos Styrolution employs approximately 3,100 people and operates 15 production sites in nine countries.
Ineos chief executive Kevin McQuade, said: “We want to show which company we belong to, and preserve our own identity at the same time. We’re proud of what we have achieved and the values we share — values that our customers and business partners have come to appreciate and expect from us.”
Despite the company changing its name and logo, the company will continue with the Triple Shift growth strategy introduced in 2013, which called for a focus on higher-growth industries, styrenic specialties and standard ABS and emerging markets.
Corporate structure, company organization, all financing arrangements and operative contracts with business partners will not be affected by the name and logo change, the group said.
McQuade added: “Ineos ownership has opened up new opportunities which we are using as drivers for our growth strategy.
“Triple Shift therefore remains our guiding light as we move forward backing our mission to support the success of our customers in their markets by giving them a competitive edge.”
