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INEOS STYROLUTION AND SINOPEC INAUGURATE NEW ABS FACILITY IN NINGBO, CHINABy PRNEWSWIRE
Published : Nov. 21, 2023 - 20:10
- The world scale facility uses INEOS Styrolution's world class Terluran® ABS technology
- Annual production of 600,000 tonnes ABS for the world's largest ABS market
- Customers to benefit from greater supply security and better local service
NINGBO, China, Nov. 21, 2023 /PRNewswire/ -- INEOS Styrolution, the global leader in styrenics, has today announced the official opening of a new world-scale ABS facility located in Ningbo, China, together with its joint venture partner SINOPEC. The facility has an annual nameplate capacity of 600,000 tonnes.
The official opening ceremony was attended by Caroline Wilson DCMG, British Ambassador to China and Hua Wei, Executive Vice Mayor, Ningbo Municipal People's Government, among other institutional representatives.
"INEOS Styrolution is committed to growing in China, the world's largest ABS market," said Steve Harrington, CEO INEOS Styrolution. "The completion of our new ABS facility in Ningbo using our world class Terluran® ABS technology is an important milestone, as we embark on a new stage in this exciting journey with SINOPEC to further strengthen our position in the Chinese ABS market."
Rob Buntinx, President APAC at INEOS Styrolution, said: "The facility inauguration today represents another important step in our ongoing commitment to our customers and partners in the Chinese market. We are strategically located closely to our customers, enabling us to respond to local demands more quickly and efficiently, while significantly reducing the delivery times."
"This facility was constructed under a challenging environment in the midst of a global pandemic. Its successful unveiling today reflects the unwavering support from the Government authorities and the tenacious "can-do" attitude of the entire project and operations team," added Meizhu Fang, CEO, INEOS Styrolution Sinopec Advanced Materials (Ningbo) Ltd.
The construction of this ABS facility in Ningbo started in end 2020. Spanning across 26.7 hectares, with more than 360 employees and contractors, this facility will produce high-end ABS materials that advance the design and functionality of many applications across numerous industry sectors including automotive, electronics, household, healthcare and toys/sports/leisure, for the rapidly growing domestic market in China.
About INEOS Styrolution
INEOS Styrolution is the world's leading styrenics supplier, with a high-performing portfolio of styrene monomer, polystyrene, ABS Standard and styrenic specialty products. With more than 90 years of innovation in materials science, INEOS Styrolution is focused on customer satisfaction with differentiated solutions that provide a competitive edge as well as investments in technology that enable closed loop recyclability for styrenics while reducing our carbon emissions. INEOS Styrolution applications can be found in many everyday products across multiple industries: including automotive, electronics, household, construction, healthcare, packaging, and toys/sports. Operating 16 production sites in nine countries, the company is a wholly owned subsidiary of INEOS Group Limited and employs approximately 3,100 people. Sales were 6.6 billion euros in 2022.
More information: www.ineos-styrolution.com
In 2023, INEOS marks 25 years since its inception
On 5 May 1998, the first deal was signed to buy former BP site at Antwerp from INSPEC under the INEOS name, with 300 staff at a cost of £80m. Since this first deal, INEOS has completed hundreds of deals in petrochemicals, oil & gas, and energy growing to a $65bn revenue group with 36 businesses in 29 countries and 26,000 staff.
Over recent years, INEOS has expanded beyond the industrial heart with investment in consumer brands, sports and charities.
What defines INEOS is its scale, people and culture; asking the big questions to tackle global challenges - with grit, rigour and humour. And with remarkable people, achieving extraordinary outcomes.
25 years is a moment in time, to look back on what has been built and to look forward to what is to come. INEOS is ambitious and continues to look for new opportunities and go for growth. Follow the INEOS journey and see where it leads.
Follow us on Twitter (@styrolution).
Hui Boon Kwa
Senior Communications Manager, Asia Pacific
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