Styrenix Performance Materials has approved the acquisition of INEOS Styrolution (Thailand) Co., Ltd., a leading global supplier of specialty ABS, high-heat ABS, and SAN polymers, for a cash consideration of $20 million. This strategic acquisition aims to enhance Styrenix’s position in the engineering polymers segment, leveraging INEOS Thailand’s strong customer base across Thailand, Southeast Asia, and China.
The revenue of INEOS Styrolution Thailand for the past three financial years stood at ₹976 crore in 2023, ₹1,484 crore in 2022, and ₹1,864 crore in 2021, underscoring its market significance. The acquisition, expected to be completed by early 2025, is subject to the fulfillment of customary conditions and approvals outlined in the Share Purchase Agreement.
In addition, the company has announced the incorporation of a step-down subsidiary in Thailand to facilitate its expanded operations in the region. This subsidiary will be fully owned by Styrenix’s wholly owned Dubai-based subsidiary, Styrenix Performance Materials FZE.
Further, Styrenix has declared an interim dividend of ₹31 per equity share, representing a substantial payout ratio of 310%. The record date for determining eligibility for this dividend is December 17, 2024, and the payment is expected within the prescribed timelines.
This acquisition and the dividend declaration highlight Styrenix Performance Materials’ commitment to driving growth and enhancing shareholder value, while strategically expanding its footprint in the engineering polymers market globally.
