Companies partner to produce ASA, ABS and HH ABS for Chinese market
SINGAPORE, July 23, 2012 /PRNewswire-Asia/ -- Styrolution, the world's leading producer of styrenics, today announced the signing of a trademark license agreement with Plastic World (China) Ltd (PW) on July 13th, 2012, for the production of acrylonitrile styrene acrylate (ASA), acrylonitrile butadiene styrene (ABS) and high-heat acrylonitrile butadiene styrene (HH ABS) for the Chinese market at PW's Shenzhen plant. Styrolution markets ASA under the Luran® S brand, while ABS and HH ABS are marketed under the Terluran®, Terluran HH®, Novodur®, and Lustran® brands. The new agreement enables Styrolution to better serve its customers by offering shorter lead times for its products and services in China.
Styrolution has had a presence in China for many years, where PW has been its partner for color compounding of Styrolution's styrenic polymers, ABS and high-impact polystyrene (HIPS), for the Chinese market since 2002. Under this new agreement, PW's Shenzhen plant will commence production of ASA, ABS and HH ABS according to the specifications and conditions set out by Styrolution. The additional capacity of 4,500mt per year at PW's Shenzhen plant will complement Styrolution's existing production capacity in the region at Ulsan, South Korea and Map Ta Phut, Thailand.
"For 10 years, we have worked closely with PW to serve the Chinese market, sharing a joint commitment to offer customers solutions that are both innovative and of the highest quality," said Hyung Tae Chang, president Asia-Pacific, Styrolution. "This agreement allows us to deepen our relationship with PW and is a positive step forward for us as we look to further strengthen our global market leadership, expand our product offerings and be closer to our customers in China," added Chang.
"We are honored to be able to collaborate with Styrolution as a licensed producer of their ASA, ABS and HH ABS products for the Chinese market and we look forward to achieving joint success," said Satoshi Kawazoe, president, Plastic World (China) Ltd.
ABOUT STYROLUTION
Styrolution is the leading global styrenics supplier with a focus on styrene monomer, polystyrene, styrenic specialties, and ABS. As a joint venture of BASF and INEOS, Styrolution combines the key styrenic assets of two of the largest chemical companies in the world, with world-class production facilities, complementary competencies and portfolios, and more than 70 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 styrenics applications for many everyday products across a broad range of industries, including automotive, electrical/electronics, building and construction, household appliances, toys/sports/leisure, packaging, healthcare and diagnostics. In 2011, pro forma sales were at 6.6 billion euros, resulting in an EBITDA before special items of 317 million euros. Styrolution employs about 3,400 people and operates 17 production sites in ten countries. For further information, please visit www.styrolution.com.
ABOUT PLASTIC WORLD (CHINA) LTD
Plastic World (China) Ltd (PW), a core member of Choei Group, has started the plastic business since 1989. For over 2 decades of growth, PW becomes one of the renowned plastic processing plants in Southern China. The business of PW covers from plastic pre-coloring, compounding to functional masterbatch, PVC compounding, and eco-plastic materials. For further information, please visit www.plasticworld.com.hk.
