Styron sells EPS business to Ravago
Canadian Plastics
Packaging Rigid PackagingRP Compounds, a subsidiary of plastic materials compounder and distributor Ravago SA, has purchased the expandable polystyrene (EPS) resin business of Styron LLC.
RP Compounds, a subsidiary of plastic materials compounder and distributor Ravago SA, has purchased the expandable polystyrene (EPS) resin business of Styron LLC.
The terms of the deal have not been disclosed.
According to a Ravago press release, the sale includes the EPS manufacturing facility in Schkopau, Germany, as well as related intellectual property and the SCONAPOR brand.
“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.”
EPS is used primarily to make foam insulation board and foam packaging.
Headquartered in Belgium, privately owned Ravago operates plastic compounding and resin distribution businesses in 57 countries around the world, and employs close to 5.000 workers. The company’s operations include resin distributor H. Muehlstein & Co. Inc.
Berwyn, Pa.-based Styron is a major producer of styrenic resins and latex and rubber products, with 2,100 employees worldwide and annual sales of around US$5.5 billion.
