Pursuant to the application made by INEOS Styrolution India Limited, the Registrar of Companies (Ahmedabad) has issued a new Certificate of Incorporation dated 5th January 2023, whereby the name of the company has been changed from INEOS Styrolution India Limited to Styrenix Performance Materials Limited.

The company had received the approval from its shareholders for the same through the Postal Ballot concluded on December 31, 2022, and results of which were disseminated and uploaded on January 03, 2023.

In January 2022, INEOS Styrolution, the global leader in styrenics, entered into an agreement for the sale of its entire shareholding interest in INEOS Styrolution India to Shiva Performance Materials. Shiva Performance Materials is part of the Shiva Group, which has businesses in specialty chemicals for pharmaceuticals, agrochemicals and other intermediates.

INEOS Styrolution India Limited produces polystyrene for a range of industries including Household and Electronics. It is used in India for disposable cups/dishes, beads, bangles, TVs, refrigerators and air conditioners.