STYRON Europe GmbH is selling its Expandable Polystyrene (EPS) business to RP Compounds, a subsidiary of Ravago S.A., for an undisclosed sum.
IN an agreement jointly signed by Styron and Ravago, the sale will include the EPS manufacturing facility in Schkopau, Germany, and all related intellectual property and the SCONAPOR(TM) brand. Said transaction is subject to regulatory approval and completion of customary conditions.
Of the sale, Theo Roussis, CEO of Ravago Group, commented, “We are delighted to bring the EPS activities of Schkopau within the Ravago Group . The expertise of the team and the high level of the factory set-up will further strengthen our Ravago manufacturing platform and technologies. The customer portfolio is very complementary and we look forward to developing our commercial relationships.”
Chris Pappas, President and CEO of Styron, added, “The sale of the EPS business is in line with our strategic portfolio management to refine Styron’s portfolio of businesses. The EPS business will be a stronger fit for Ravago, as they are strategically committed to growing in this area.”