INEOS Styrolution, the global leader in styrenics, today announced its ground-breaking ceremony for its new 600kt ABS (acrylonitrile butadiene styrene) plant located in Ningbo, China. The development of the new site is part of INEOS Styrolution’s larger expansion plans into China, following an earlier acquisition of two polystyrene production sites in Ningbo and Foshan.
The location of the new site was selected because of its extensive access to feedstock supply options and excellent supply chain connection to customers. The new site is expected to be operational by 2023.
The ground-breaking ceremony was hosted by Meizhu Fang, INEOS Styrolution APAC Project Director. Attendees included local government and business leaders, engineering and construction representatives, and several project service providers/partners.
“First, we want to thank the Ningbo Municipal Government, Zhenhai District Government, Sinopec Zhenhai Refining & Chemical Co., Ltd.,Ningbo Zhoushan Port Group, State Grid Ningbo Power Supply Company and Ningbo Petrochemical Economic and Technological Development Zone administrative committee for providing their very strong support as we embark on this exciting project for our company,” said Steve Harrington, CEO INEOS Styrolution. “The successful completion of this project will be a significant step forward for our ambitious growth plans in China and will allow us to further serve our customers in their domestic market.”
Rob Buntinx, President Asia Pacific at INEOS Styrolution, added: “I am excited to see us building a world-class ABS manufacturing plant here in Ningbo. ABS is a versatile high performance styrenic resin. Its properties make it the material of choice for many everyday products across industries, including automotive, electronics, household, healthcare and toys/sports/leisure. This investment affirms our commitment to support the growth of our customers in Asia.”
by Ineos Styrolution, Press Release
3M and Dow have announced they are cutting thousands of roles from their global workforces in response to economic pressures. Dow has said it will cut 2,000 jobs across its global workforce (around 5%) in a bid to save US$1bn in 2023. The company says it will also cut costs by shutting down “select assets”, though it did not note where it would halt operations.
Sweden’s state mining firm has discovered what could be Europe’s largest rare earths deposit, and says it could help the bloc reduce its reliance on imports of minerals needed to manufacture clean technologies and meet climate targets.
Henkel and Avantium have been partners since 2019, when Henkel joined the PEFerence consortium. This consortium of partners, coordinated by Avantium, aims to establish an innovative supply chain for FDCA and PEF (polyethylene furanoate).