Approval for Braskem, Styrolution JV by Brazil's antitrust agency

10-Mar-14

Brazil's antitrust agency CADE approved without restrictions a proposed joint venture between styrene producer Styrolution and local petrochemical company Braskem, as per Business News Americas. The two companies signed a memorandum of understanding to explore a JV in Brazil in October 2013. The proposed plant would have styrenics capacity of 100,000 tpa. Work on the plant could start as early as 2015, with production starting in 2017. Frankfurt-based Styrolution would have a 70% stake and Braskem the remaining 30%. The plant would supply specialty styrenics, acrylonitrile butadiene styrene (ABS) and styrene acrylonitrile (SAN) copolymers to customers in Brazil and the rest of South America. The joint venture would aim to substitute ABS and SAN imports in Brazil.