INEOS Styrolution to sell its stake in Map Ta Phut plant in Thailand

INEOS Styrolution announced on December 9 that it has signed a definitive agreement to sell its acrylonitrile butadiene styrene (ABS) and styrene acrylonitrile (SAN) production site in Map Ta Phut, Thailand, to Styrenix Performance Materials Limited.

The Board of Directors of Styrenix Performance Materials, at its meeting on December 9, approved the acquisition by the Company (through a subsidiary) of 100% of the equity interest in INEOS Styrolution (Thailand) Co., from the existing shareholders, namely INEOS Styrolution Group GmbH (INEOS Germany), INEOS Styrolution APAC Pte. and INEOS Styrolution Hong Kong Company, subject to the completion of customary conditions precedent set out in the Share Sale and Purchase Agreement (SPA) between the Company and INEOS Germany (the Proposed Acquisition). The transaction is expected to be completed in early 2025.