# Sinopec to acquire 50% stake in INEOS ABS venture for $631 million

Sinopec will acquire a 50% stake in an INEOS-owned venture in Ningbo that produces ABS plastic, for $631 million, including a 600,000 tpy ABS plant under construction and plans for two more.

- Type: Acquisition
- Announced: 2022-07-28
- Where: Ningbo, China
- Value: $631.0M
- Status: announced
- Capacity: 600,000 tonnes per year ABS (under construction); 300,000 tonnes per year each for two additional plants
- Products: ABS plastic
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Sinopec](https://endata.com/companies/1143.md) (acquirer)
- [INEOS](https://endata.com/companies/9807.md) (partner)
- [INEOS Styrolution Advanced Materials (Ningbo)](https://endata.com/companies/64419.md) (target)

## Sources

- [businesstimes.com.sg](https://www.businesstimes.com.sg/companies-markets/energy-commodities/sinopec-agrees-deals-ineos-sells-stake-shanghai-plant-105), 2022-07-28: "the Chinese oil and gas major also said it will acquire a 50 per cent stake for US$631 million in an Ineos-owned venture based in east China that produces ABS plastic"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.