Page 48 - Plastics News November 2016
P. 48
BUSINESS NEWS
Chevron Phillips Chemical Armacell acquires Brau7zilian
signs agreement with INEOS PE foam producer PoliPex
Styrolution European insulation and engineered foams
producer Armacell, based in Luxembourg, has
Chevron Phillips Chemical Company LLC (Chevron purchased PoliPex, a
Phillips Chemical) has signed an agreement with Florianopolis based,
INEOS Styrolution to sell the company’s K-Resin® Brazilian extruded
styrene-butadiene polyethylene
copolymers (SBC) insulation foams
business. The deal is maker company
subject to customary in the southern
closing conditions Brazilian state of Santa Catarina for an undisclosed
and regulatory sum. Armacell International has extended its product
approvals. As part of portfolio in Latin America with the acquisition of
the transaction, INEOS Brazilian extruded polyethylene insulation foams
Styrolution will purchase the equity interests of K R maker PoliPex. PoliPex, with around 80 employees,
Copolymer Co. Ltd (KRCC), which owns and operates a is a PE foams market leader with distribution centres
K-Resin SBC plant in the Yeosu Petrochemical Complex in southern and north eastern Brazil. It was formed in
in South Korea. Certain Chevron Phillips Chemical’s 1991 and has since achieved “solid growth rates and
proprietary K-Resin SBC intellectual property, and other HEALTHY
