VADODARA, India, November 21, 2013 /PRNewswire/ --
- Growth Platform to Further Strengthen Styrolution's Leadership Position in the Indian Styrenics Market
- Manifold Operational Synergies Expected
Styrolution ABS (India) Limited (SAI) and Styrolution India Private Limited yesterday announced the planned consolidation of their operations to create better generation of synergies and further strengthen Styrolution's presence in the Indian market. Both companies are part of Styrolution Group, the world's leading producer in styrenics.
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The Board of Directors of SAI at their meeting held on November 20, 2013 approved the proposal of making Styrolution India Private Limited its wholly owned subsidiary by acquiring 100% of its equity shares, subject to any mandatory approvals.
This consolidation proposal is expected to bring manifold advantages to SAI, including the ability to develop its customer markets, especially in the household appliances and electrical and electronics segments, as well as the synergies resulting from streamlined business operations of the two entities, including administration, raw materials sourcing, shore tanks utilization, supply chain management, talent development and sharing of technology know-hows.
Furthermore, this integration will also enable Styrolution to evaluate options for future expansion of ABS capacity on the land available at the Dahej site to meet the growing demands of the Indian market.
About Styrolution ABS (India) Limited
Styrolution ABS (India) Limited is the market leader for ABS (Acrylonitrile Butadiene Styrene) and SAN (Styrene Acrylonitrile) in India with three manufacturing facilities located in Gujarat at Nandersari, Katol and Moxi, respectively. ABS is a styrenics copolymer used for manufacturing plastic components for a wide range of applications, with a major focus on automotive (four-wheelers and two-wheelers), household appliances, electrical and electronics, etc. SAN is a transparent styrenics copolymer used mainly in applications including household appliances, imitation jewellery, etc. Styrolution ABS (India) Limited is a public limited company and its shares are traded on Bombay Stock Exchange and National Stock Exchange (Stock Exchange Symbol: STYABS, ISIN: INE189B01011).
About Styrolution India Private Limited
Styrolution India Private Limited is one of the leading manufacturers of polystyrene in India having a state-of-the-art manufacturing facility at Dahej, Gujarat. Polystyrene is a styrenics polymer used for manufacturing plastic components across varied applications including electrical and electronics, household appliances, packaging, etc. Styrolution India Private Limited is a private limited company.
About Styrolution
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 80 years of experience, Styrolution helps its customers succeed by offering the best possible solution, designed to give them a competitive edge in their markets. The company provides styrenic applications for many everyday products across a broad range of industries, including automotive, electrical and electronics, household appliances, building and construction, healthcare and diagnostics, packaging and toys/sports/leisure. In 2012, sales were at 6 billion euros, resulting in an EBITDA before special items of 335 million euros. Styrolution employs approximately 3,200 people and operates 17 production sites in ten countries.
For further information please visit www.styrolution.com.
Primary Media Contact: Suvendu Senapati, [email protected], 91-265-2355861
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