Frankfurt-based materials supplier Ineos Styrolution is increasing specialty resin production capacity at its plant in Altamira, Mexico, to support growing demand in the automotive sector, the company revealed in a press release.
Ineos Styrolution will add 20,000 metric tons of annual capacity for ABS and ASA copolymer resins, increasing the firm’s total copolymer capacity in Altamira to 180,000 metric tons.
This increased demand is in line with market researchers’ observations of key segments like automotive and construction, which show positive growth, officials said.
This measure will not only be the result of a debottlenecking of the Altamira copolymer plant, it will also lead to a reduction of imports from other regions that were needed to support growth in the Americas region. These import volumes will then be freed up for business growth in other regions. Startup is expected by the first quarter of 2018.
“The capacity expansion will allow us to grow together with our customers and provide a service level according to their expectations in this dynamic market,” Americas standard products vice president Ricardo Cuetos said in the release.
Ineos Styrolution is a joint venture between Ineos Group AG of Rolle, Switzerland and Frankfurt-based Styrolution GmbH. The firm employs 3,100 at 15 sites worldwide and posted sales of almost US$ 5.4 billion in 2015.
In October, Ineos Styrolution announced that it was acquiring the global K-Resin styrene-butadiene copolymers (SBC) business of Chevron Phillips Chemical Co. and Daelim Industrial Co. Ltd. for an undisclosed price.