ELIX
Sale of ABS manufacturer complete / China's Sinochem pays EUR 195m
 Elix Polymer's production site in Tarragona (Photo: Elix) |
The acquisition of Elix Polymers (Tarragona / Spain; www.elix-polymers.com) has been completed. Sun European Partners, the European arm of US investment firm Sun Capital Partners (Boca Raton, Florida; www.suncappart.com), has sold the Spanish producer of ABS resins and derivatives to Sinochem (Beijing / China; www.sinochem.com) for an enterprise value of EUR 195m – see Plasteurope.com of 16.10.2018.
According to Plasteurope.com's Polyglobe database (www.polyglobe.net), Elix Polymers has an ABS capacity of 180,000 t/y at its Tarragona site and has been owned by Sun European Partners since 2012 – see Plasteurope.com of 04.01.2012. The company was founded in 2011, when it was divested to meet the EU’s preconditions for forming the then joint venture Styrolution, the merger of styrene activities between BASF and Ineos – see Plasteurope.com of 06.10.2011. The plant's history goes back over 40 years to Monsanto – which carried "Elix" as a brand – and subsequently to Bayer, Lanxess and Ineos.
According to Plasteurope.com's Polyglobe database (www.polyglobe.net), Elix Polymers has an ABS capacity of 180,000 t/y at its Tarragona site and has been owned by Sun European Partners since 2012 – see Plasteurope.com of 04.01.2012. The company was founded in 2011, when it was divested to meet the EU’s preconditions for forming the then joint venture Styrolution, the merger of styrene activities between BASF and Ineos – see Plasteurope.com of 06.10.2011. The plant's history goes back over 40 years to Monsanto – which carried "Elix" as a brand – and subsequently to Bayer, Lanxess and Ineos.
14.01.2019 Plasteurope.com [241497-0]
Published on 14.01.2019
German version of this article...