1973: The company incorporated as ABS Plastics Limited by Mr. Rakesh Agrawal.
1992: ABS Plastics Limited changes name to ABS Industries Limited.
1997: The company is rechristened as Bayer ABS Limited after Bayer AG acquires a majority share of 51% in ABS Industries Limited.
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, our 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.
Moreover, the PS business of BASF named as BASF Styrenics Private Limited became part of “Styrolution group” & renamed as Styrolution India Pvt. Limited.
Mr. Rakesh Agrawal remained as Managing Director of the company till 2012 since inception.
2015: Styrolution India Pvt. Limited merges with Styrolution ABS India Limited.
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.
2022: INEOS Styrolution India Limited was taken over by Shiva Performance Materials Private Limited under the leadership of Mr. Rakesh Agrawal (Original Promoter), consequent to which name of the Company changed to Styrenix Performance Materials Limited, effective from January 5, 2023.
