ANI PR Wire
02 Aug 2022, 10:30 GMT+10
Singapore, August 2 (ANI/PRNewswire): INEOS Styrolution, the global leader in styrenics, announced today that it has entered into an agreement for the sale of its entire shareholding interest in INEOS Styrolution India to Shiva Performance Materials.
Shiva Performance Materials Private Limited is part of the Shiva Group, which has businesses in specialty chemicals for pharmaceuticals, agrochemicals and other intermediates.
Upon completion of the transaction, Shiva Performance Materials will acquire INEOS Styrolution's 61.19 per cent equity interest in INEOS Styrolution India.
Steve Harrington, CEO INEOS Styrolution, comments: "The business continues in Shiva Performance Materials' experienced hands, serving the existing customer base and seeking future growth potential to enhance the Company's current position in the Indian market".
The transaction triggers a mandatory tender offer (MTO) and the completion is subject to fulfillment of customary conditions.
Visit us at:
K fair in Dusseldorf, Germany, October 19-26, 2022: hall 6/ booth 6D28
INEOS Styrolution is the leading global styrenics supplier, with a focus on styrene monomer, polystyrene, ABS Standard and styrenic specialties.
With world-class production facilities and more than 90 years of experience, INEOS Styrolution helps its customers succeed by offering solutions, designed to give them a competitive edge in their markets.
At the same time, these innovative and sustainable best-in-class solutions help make the circular economy for styrenics a reality. The company provides styrenic applications for many everyday products across a broad range of industries, including automotive, electronics, household, construction, healthcare, packaging and toys/sports/leisure. In 2021, sales were at 6 billion euros. INEOS Styrolution employs approximately 3,600 people and operates 20 production sites in ten countries.
For further information, please visit www.ineos-styrolution.com
Follow us on Twitter (@styrolution).
Contact
Hui Boon Kwa
Senior Communications Manager, Asia Pacific
INEOS Styrolution APAC Pte Ltd.
111 Somerset Road
#14-16 to 21 TripleOne Somerset
Singapore 238164
Phone: +65 69338393
Email: huiboon.kwa[at]ineos.com
Internet: www.ineos-styrolution.com
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)
Get a daily dose of Thailand Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Thailand Herald.
More InformationKATHMANDU, Nepal: Using xenon gas treatment and new technology is making climbing Mount Everest faster and better for the environment...
YOKOSUKA, Japan: Facing mounting losses and global restructuring, Japan's Nissan Motor Corp. is turning to its unique e-Power hybrid...
In the early 1980s, after witnessing opportunities in Asia, Barry Pearton saw a clear gap in Australia's media market. Without nothing...
BEIJING/TAIPEI: Facing mounting U.S. export restrictions, Nvidia is preparing to launch a new, lower-cost artificial intelligence chip...
BEIJING, China: China's Lenovo reported a steep 64 percent drop in fourth-quarter profit, falling significantly short of analyst expectations...
KUALA LUMPUR, Malaysia - At a meeting on Tuesday in the Malaysian capital, Kuala Lumpur, ASEAN leaders reiterated their commitment...
KATHMANDU, Nepal: Using xenon gas treatment and new technology is making climbing Mount Everest faster and better for the environment...
CAIRO, Egypt: Egypt has revealed three newly discovered tombs in the Dra Abu al-Naga necropolis in Luxor. These tombs, found by Egyptian...
TOKYO, Japan: As global inflation remains stubborn and growth prospects dim, central bankers from around the world gathered in Tokyo...
HONOLULU, Hawaii: A man from Oregon, Oliver Widger, has arrived in Hawaii after sailing across the ocean with his cat, Phoenix. He...
BUENOS AIRES, Argentina: The Archbishop of Buenos Aires, Jorge García Cuerva, used a major religious event over the weekend to criticize...
CIUDAD JUAREZ, Mexico: In a first-of-its-kind judicial election in Mexico, more than 5,000 candidates are vying for over 840 federal...