Global polystyrene and styrene monomer leader Styrolution Group is making several changes to its global production, including no longer sourcing those materials from a plant in
Media reports said that move will result in the elimination of 110 jobs at the plant, which is operated by Styrolution co-owner Ineos Group. Officials with Frankfurt-based Styrolution declined to confirm the cuts, and officials with Ineos in
Styrolution announced the
“To maintain and expand our leading market position, implementing our strategic priorities quickly and rigorously is key,” CEO Roberto Gualdoni said in the release. “I am convinced that these measures will increase our competitive strength ... and allow us to serve our customers even better.”
The Indian move will increase capacity for ABS and styrene-acrylonitrile (SAN) resins in Vadodara by 2014.
Styrolution was formed in October 2011 as a joint venture between Ineos and chemicals giant BASF SE of Ludwigshafen.