BASF
announced today that it is selling its polystyrene business in the
and
, including its
,
production facility, to INEOS Americas, the North American subsidiary of
INEOS, an international chemical company headquartered in the
. Financial details were not disclosed.
The sale of the polystyrene business, which requires approval by the US Federal Trade Commission (FTC), forms part of BASF’s North American restructuring program. As part of the agreement, BASF will transfer approximately 140 employees to INEOS.
The
“The
BASF said in a statement that it would continue to manufacture and sell polystyrene in other regions.
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