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BASF to complete carve-out of styrenics business by 1 Jan

October 07/2010

SINGAPORE (ICIS) -- BASF will complete the spin-off of its styrenics business, named Styrolution, by 1 January next year, the company said in a statement on Thursday.

 

The introduction of Styrolution would see BASF transferring its styrenics businesses at production sites in Germany, Belgium, South Korea, India and Mexico to the new firm, BASF said.


Separate companies would also be established in other countries, for instance in the US , Italy or China , where BASF has other styrenic activities, such as marketing and sales.

 

BASFs styrenics business posted sales of ?2.5bn ($3.47bn) in 2009.

 

Through this action, we will be able to sustain and improve our global business in an environment characterized by volatile demand, high pressure on margins and intensive competition, said Martin Brudermuller, member of the board of executive directors of BASF and responsible for BASFs plastics business.

 

The company plans to carve out its businesses in styrene monomers (SM), polystyrene (PS), acrylonitrile butadiene styrene (ABS), styrene butadiene copolymers (SBC) and other styrene-based copolymers and establish separate companies, according to BASF.


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BASF to complete carve-out of styrenics business by 1 Jan

 

 

 

 

 

 

 

 


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