BASF has announced that it will sell its styrene monomer site in Ulsan, Korea, to SK Energy, a South Korean refining company. The contract comprises the plant with a capacity of 320,000 metric tons of styrene monomer per year and the 50,000 square meter site, which is situated within SK’s production complex . The two companies have agreed not to disclose financial details of the transaction.
Hyung Tae Chang, Group Vice President Styrenics Asia explained: “The styrene monomer plant in Ulsan has been idled since October 2008 because of an oversupply in the regional market. We are now obtaining styrene monomer from other sources and will continue to supply our Asian customers with the plastics polystyrene, acrylonitrile-butadiene-styrene copolymer (ABS) and expandable polystyrene (EPS) from a production plant at another BASF site in Ulsan.” The sale will affect 34 employees, most of whom have accepted early retirement programs.
Joachim Streu, President of BASF’s global Styrenics unit added: “We are working intensively to restructure and significantly improve profitability in the styrenics value chain. In order to shape the business sustainably, we are considering all options, including capacity reductions such as the closure of an 80,000 ton per year polystyrene plant in Ludwigshafen, Germany, in June 2009.”
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BASF Construction Solutions GmbH
BASF Construction Polymers GmbH, Trostberg, Germany, is a leading innovator and producer of construction and oilfield polymers. Our product portfolio for construction chemicals consists of superplasticizers, dispersants, plasticizers, rheology modifying agents, stabilizers, defoamers and ai ... more
2007 Formation of BASF Fuel Cell as leading supplier of fuel cell components 2006 BASF acquires PEMEAS 2005 E-TEK becomes division of PEMEAS 2004 Celanese and investors form PEMEAS 2003 BASF starts development of HC-membrane 2002 Strong IP position and manufacturing facility for Celt ... more
In order to be able to take advantage of the opportunities for profitable growth throughout the world, BASF is represented with production and sales facilities in all economic regions. Even though Europe is BASF's home market, the dynamic regions of North America, Asia and South America are ... more
