BASF Takes Further Step In Styrenic Activities Divestment
Monday, August 18, 2008
BASF is continuing the divestment process of its global styrenic business and plans to reorganize the business into new subsidiaries as appropriate. The new companies are expected to be established in January 2009.
In addition, the scope of the activities to be sold will be expanded to include the styrene copolymer business. This expansion includes styrenic copolymer production plants in Ludwigshafen and Schwarzheide, Germany as well as the styrene copolymer global marketing, sales and logistics activities.
The new subsidiaries will operate the global styrenics business independently. They will combine the commodities styrene monomers (SM), polystyrene (PS), styrene butadiene copolymer (SBS) and acrylonitrile butadiene styrene (ABS) as well as the styrene copolymers consisting of the Luran (SAN), Luran HH (AMSAN), Luran S (ASA), Terblend N (ABS/PA), Terluran HH (ABS-HH), Terlux (MABS) and Styroflex (SBS) brands. The styrenic commodities and copolymers with around 1,600 employees had total sales of about EUR4 billion in 2007 and production sites located in Antwerp, Belgium; Ludwigshafen and Schwarzheide, Germany; Altamira, Mexico; SÃ£o Jose dos Campos, Brazil; Dahej, India; and Ulsan, South Korea. BASF will concentrate its remaining styrenic plastics activities on its foams business for the construction and packaging industries as part of the Performance Polymers division.
"We are reorganizing our styrenics business to improve its future success and give us new options outside of BASF," said Martin Brudermuller, member of the Board of Executive Directors of BASF SE and responsible for the Plastics segment.
Styrene commodities are mainly used for household and office equipment, information technology, as well as cosmetics and in packaging. Styrene is a colorless liquid and is the basis for these plastics. Styrenic copolymers are thermoplastics on the basis of the monomers styrene and acrylonitrile. They are highly resistant to chemicals and temperature which makes them versatile materials for use in the automotive and electronic industries as well as in many everyday products.
Source: BASF SE
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