Styrenix Performance Materials (formerly known as INEOS Styrolution India) is the number one producer of Absolac (ABS) and Absolan (SAN) in India. ABS is a plastic resin produced from acrylonitrile, butadiene and styrene, used for manufacturing home appliances, automobiles, consumer durables and machinery. Absolan (SAN) is a polymerized plastic resin produced from styrene and acrylonitrile, and mainly used for products such as lighting, stationery, novelties, refrigerators and cosmetic packing. With over years of pioneering experience, the company has been the most preferred supplier to its customers. The company takes immense effort in analyzing and understanding its customer’s requirements to offer innovative solutions that enhances the quality of their products. The company’s commitment to offer best-in-class products and customized solutions has put it in the number one position. The company is committed to work hand-in-hand with its customers to drive success together. The company helps its customers succeed by offering innovative and sustainable best-in-class solutions, designed to give them a competitive edge in their markets.
Business area of the company
The company is a producer of Absolac (ABS) and Absolan (SAN) in India. The company provides styrenic applications for many everyday products across a broad range of industries, including automotive, electronics, household, construction, healthcare, packaging and toys/sports/leisure.
Products
- Absolac ABS
- Absolac High Heat ABS
- Absolan SAN
- GPPS
- HIPS
Milestones
- 1973: The company incorporated as ABS Plastics Limited by Rakesh Agrawal.
- 1992: ABS Plastics Limited changes name to ABS Industries Limited.
- 1992: ABS capacity increased to 10,000 TPA
- 1993: Commissioned new SAN plant in Katol-capacity 5,000 TPA
- 1995-96: ABS capacity increased to 20,000 TPA, SAN capacity increased to 10,000 TPA, R&D facility established in Moxi
- 1997: The company is rechristened as Bayer ABS Limited after Bayer AG acquires a majority share of 51% in ABS Industries Limited.
- 2000-03: Capacity increased of ABS to 39,000 TPA; & SAN to 40,000 TPA
- 2005: The Bayer Group decides to spin-off of the chemicals division and parts of the polymers business globally with the name of “LANXESS”. Thus, the company becomes a part of LANXESS Group and the company’s name changed to LANXESS ABS Limited.
- 2008: The LANXESS Group decides to restructure its styrenics business globally. The company becomes a part of INEOS and the company’s name changed to INEOS ABS (India) Limited.
- 2012: Globally, the styrenics business of INEOS & BASF joins hands together to form a global joint venture named “Styrolution”. Accordingly, INEOS ABS (India) Limited renamed as Styrolution ABS India Limited.
- 2012: The PS business of BASF named as BASF Styrenics Private Limited became part of “Styrolution group” & renamed as Styrolution India Pvt. Limited.
- 2012: Rakesh Agrawal remained as Managing Director of the company till 2012 since inception.
- 2014: Commissioned another new SAN line in Katol Capacity increased to 100,000 TPA
- 2015: Styrolution India Pvt. Limited merges with Styrolution ABS India Limited.
- 2015: PS Business acquired from BASF: Capacity 66,000 TPA
- 2016: After INEOS group acquired shares of BASF in “Styrolution” & in order to reflect the identity of the Company as an INEOS group company, name of the Company changed to INEOS Styrolution India Limited.
- 2019-20: Moxi Capacity increased to 100,000 TPA
- 2022: INEOS Styrolution India Limited was taken over by Shiva Performance Materials Private Limited under the leadership of Rakesh Agrawal (Original Promoter),
- 2023: The Company changed to Styrenix Performance Materials Limited, effective from January 5, 2023.
- 2023: Debottlenecking & Brownfield expansion announced
- 2025: De-bottlenecking activity is completed, increased PS production capacity from 66KTPA to 100KTPA Rubber and capacity 24KT to27KTPA
- 2025: Established presence in Thailand through the acquisition of 'INEOS Styrolution (Thailand) Co., Limited' now renamed as 'Styrenix Performance Materials Thailand Limited', reinforcing its regional growth strategy.
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