BASF sells Polystyrene Specialty Compounds business to Spartech
BASF sells its specialty polystyrene business - which includes compounds of flame retardant and antistatic polystyrene specialty products - to Spartech Polycom SAS, a subsidiary of Spartech Corporation and a leading producer of polymer compounds with production facilities in the U.S., Mexico and France. The deal will take effect on April 15, 2004. Annual sales of the business amount to approximately 9 Million Euros in Europe for the year 2003. The parties agreed not to disclose the price.
The production of polystyrene compounds will be transferred to Spartech's production plant in Donchery, France. BASF will close its polystyrene compounds production in Ludwigshafen, as announced in October 2003.
"The sale of this specialty polystyrene business is part of our strategy to consolidate our product range and to concentrate styrenics production on high-volume products in high-efficiency plants," says Herbert Wieland, director of BASF strategic business development and technology for styrenics.
Other news from the department business & finance
