The styrenics leader INEOS Styrolution announced the signing of a joint development agreement (JDA) with a specialist plastic recycling technology provider Recycling Technologies, to further advance the development of recycling of polystyrene in Europe.
- This agreement recognises the commercial value of post-consumer plastic waste to prevent this important resource being incinerated or ending up in landfills.
- Recycling Technologies possesses extensive knowledge, technology and expertise in the area of building reactors, suitable to thermally recycle mixed plastics using pyrolysis.
- Recycling Technologies has already completed a detailed research and trial process with INEOS Styrolution.
In June 2020, INEOS, announced its intention to purchase the global Aromatics and Acetyls businesses of BP for a consideration of $5 billion. $4 billion will be payable upon completion with the remaining $1 billion deferred until, at the latest, June 2021.
In January 2020, INEOS Styrolution, has announced plans to build a world-scale ABS plant in Ningbo, China. The new production site will be adjacent to the recently acquired polystyrene plant in Ningbo. Less than a year after announcing the acquisition of two polystyrene production sites in China, INEOS Styrolution embarks on plans to grow its production capacity in the country significantly. The company plans to construct a green field ABS plant adjacent to the Ningbo polystyrene site in the Zhejiang Province in Eastern China.
About INEOS Styrolution
INEOS Styrolution, headquartered in Frankfurt, Germany, is a leading styrene solution provider. The company is global supplier of styrene monomer, polystyrene, ABS Standard and styrenic specialties. The company provides styrenic applications for a broad range of industries, including Automotive, Electronics, Household, Construction, Healthcare, Packaging and Toys/ Sports/ Leisure. INEOS employs approximately 3,500 people globally and operates around 20 production sites in ten countries.