September, 16 (polimerica.eu) -- The chemical company is progressing with steps to restructure its styrenics business.
BASF has
signed an agreement with petrochemical company Companhia Brasileira de
Estireno (CBE), a Unigel subsidiary, to sell its Brazilian polystyrene business,
including the 190,000 tons plant in São José dos Campos. All employees
from production, marketing and sales will transfer to the buyer. The
parties have agreed not to disclose the purchase price or further
financial details.
“Given the current economic environment, we are taking steps to improve the profitability of our core styrenics
business and strengthen our market position. This was also the reason
for the recent closure of the 80,000 metric tons per year polystyrene plant in Ludwigshafen and the sale of our 320,000 metric tons per year styrene monomer site in Korea that we announced at the beginning of August,” explained Joachim Streu, head of BASF’s styrenics business.
BASF will continue to market acrylonitrile-butadiene-styrene (ABS), Styrolux and Styroflex (SBS), as
well as other styrenics copolymers in Brazil. The remaining South
American market will be supplied with these products and with
polystyrene from BASF sites in Antwerp, Belgium, and Altamira, Mexico.
Henri Slezynger, Chairman of Unigel, has underlined that “the
integration strategy with Unigel´s two styrene monomer plants totaling
280,000 metric tons will strengthen one of the group’s core business in
petrochemicals.”
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