BASF takes a further step in the divestment of its styrenic activities
Styrenics business to be reorganized in new BASF Group companies
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. The styrenic commodities and copolymers with around 1,600 employees had total sales of about €4 billion in 2007 and production sites located in Antwerp, Belgium; Ludwigshafen and Schwarzheide, Germany; Altamira, Mexico; São José 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 Dr. Martin Brudermüller, member of the Board of Executive Directors of BASF SE and responsible for the Plastics segment.
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