Styron Europe GmbH and Ravago S.A. announced jointly that they have signed a definitive agreement under which Styron's Expandable Polystyrene (EPS) business will be sold to RP Compounds, a subsidiary of Ravago S.A., for an undisclosed sum.
The sale includes the EPS manufacturing facility in Schkopau, Germany, as well as related intellectual property and the SCONAPOR brand. The transaction is subject to regulatory approval and completion of customary conditions.
"We are delighted to bring the EPS activities of Schkopau within the Ravago Group, said Theo Roussis, CEO of Ravago Group. "The expertise of the team and the high level of the factory set-up will further strengthen our Ravago manufacturing platform and technologies. The customer portfolio is very complementary and we look forward to developing our commercial relationships."
"The sale of the EPS business is in line with our strategic portfolio management to refine Styron's portfolio of businesses", said Chris Pappas, President and CEO of Styron. "The EPS business will be a stronger fit for Ravago, as they are strategically committed to growing in this area.
Expandable Polystyrene (EPS) is a type of plastic used to make foam insulation board and foam packaging.Weitere News im plasticker