BASF SE said Monday that its site under construction in southern China is expected to deliver annual sales of €4 billion to €5 billion ($4.69 billion to $5.86 billion) by 2030. The German chemicals company said it is targeting a contribution in earnings before interest, taxes, depreciation, and amortization of €1.0 billion to €1.2 billion … Read more
Platinum Equity signed a definitive agreement to acquire Solenis, a leading global producer of specialty chemicals used in water-intensive industries, from Clayton, Dubilier & Rice (CD&R) and BASF in a transaction that implies an enterprise value for Solenis of $5.25 billion. As part of the transaction, Solenis is expected to merge with Sigura Water, an … Read more
Umicore and BASF have entered into a non-exclusive patent cross-license agreement covering a broad range of cathode materials and their precursors. The agreement also covers chemistries such as nickel manganese cobalt (NMC), nickel cobalt aluminum (NCA), nickel manganese cobalt aluminum (NMCA) and high manganese (HLM). Cathode materials are critical for the performance, safety and cost … Read more
BASF, the German chemicals producer, pledged on Friday to spend up to €4 billion ($4.7 billion) significantly raising its medium-term 2030 target for reductions in greenhouse gas emissions. BASF wants to reduce its greenhouse gas emissions worldwide by 25% compared with 2018 – and to achieve this despite targeted growth and the construction of a … Read more
BASF SE announced that the implementation of the methylene diphenyl diisocyanate (MDI) capacity increase program for production facilities at the company’s Verbund site in Geismar, Louisiana, is progressing on schedule. Over time, BASF targets to double the capacity from 300,000 metric tons per year to approximately 600,000 metric tons per year. With this stepwise capacity … Read more
BASF PETRONAS Chemicals Sdn Bhd (BPC), a joint venture between Germany’s BASF and Malaysia’s PETRONAS Chemicals Group Berhad (PCG) said it will close its butanediol (BDO) and derivatives plant at Kuantan, Malaysia, as part of its product portfolio realignment. The closure will take effect in March 2021, but will not impact other plants within the … Read more
BASF said on Thursday that its plans to build a petrochemicals complex in India worth up to $4 billion with partners had been put on hold due to the economic uncertainty caused by the pandemic. As part of four-party Memorandum of Understanding (MoU), signed on October 4, 2019, Abu Dhabi National Oil Company (ADNOC), Adani … Read more
BASF is pressing ahead with its key growth projects, particularly its planned China Verbund site and battery technology sites in Europe, CEO Martin Brudermuller said on Wednesday, despite the need to cut costs in the wake of the coronavirus pandemic. The growth potential of the projects justifies the scale of the expenditure, Brudermuller said, despite … Read more
BASF Agricultural Solutions acquired the proprietary Glu-L technology for L-glufosinate ammonium from AgriMetis, an industry leader in biotechnological innovations for crop protection. With this technology, BASF will provide farmers with a more efficient solution and improved formulation to protect against troublesome weeds. “The Glu-L technology builds on BASF’s continued commitment to innovative solutions that help … Read more
BASF Idemitsu Co., Ltd., a joint venture between BASF SE and Idemitsu Kosan Co., Ltd., will be closing its 1,4-Butanediol (BDO) plant at Chiba, Japan in December 2020. The joint venture agreement between BASF and IKC will be terminated thereafter. BASF’s decision to close the BIC plant in mutual agreement with IKC is part of … Read more
BASF has acquired land, buildings and assets of SPC (Sinopec Shanghai Petrochemical Company, Ltd., China), related to alkoxylates production, adjoining the BASF Jinshan site, in order to fulfil the growing demand from customers across Asia Pacific, especially China. With the current alkoxylate line in the Care Chemicals Jinshan plant running at full capacity, this acquisition … Read more
BASF India Limited’s Board of Directors have approved the acquisition of 100% stake by the Company in BASF Performance Polyamides from BASF Nederland B.V. and BASF SE. The deal consideration amount is not exceeding Rs 305 crores ($40.6 million), including adjustments, if any, at arm’s length basis, subject to the approval of the shareholders of … Read more
BASF wants to help solve the existing hand sanitizer shortage that emerged as a result of considerably increased demand due to the spread of novel coronavirus. In order to make this possible, several preconditions have been met over the past few days to enable the manufacture of medical disinfectants at the Ludwigshafen site itself. BASF … Read more
BASF will expand its global capacities for methane sulfonic acid (MSA) to 50,000 metric tons per year. This involves a higher double-digit million euro investment in constructing a new methane sulfonic acid plant at the Ludwigshafen site. The company had announced the expansion plan of MSA at the end of 2018. The construction works started … Read more
BASF has expanded its low 1,4-dioxane line as regulators, including those in New York, have continued to target 1,4-dioxane in personal care and household cleaning products due to purported health concerns. BASF Flex solutions’ portfolio includes surfactants such as Texapon N 70 NA FlexGold N/A 5 and Texapon N 70 NA FlexSilve. “Formulating with Flex … Read more
BASF SE announced a single-digit million-euro investment to increase capacity of water-based polyurethane dispersions at its Castellbisbal site in Spain. The expansion will allow BASF to increase its production capacity by 30%. “We want to continue to provide our customers with high-quality polyurethane dispersions and help them grow by ensuring supply reliability. Considering the rising … Read more
BASF has closed the previously announced transaction to divest its ultrafiltration membrane business to DuPont Safety & Construction (DuPont). The divestiture includes the shares of inge GmbH, the business’ headquarters and production site in Greifenberg, Germany, including all employees, its international sales force, and certain intellectual property previously owned by BASF SE. Financial details of … Read more
BASF SE announced that it has entered a deal to sell its construction chemicals business to Lone Star Funds, a global private equity firm for 3.17 billion euros ($3.5 billion). The deal, which has immediate effect upon BASF’s reporting, is expected to close in the third quarter of 2020, according to the statement. The deal … Read more
BASF officially launched its smart Verbund project in Zhanjiang, Guangdong province, China, and commenced building its first plants. The project is estimated to cost US$10 billion as announced in July 2018. The first plants will produce engineering plastics and thermoplastic polyurethane (TPU) to serve the increasing needs of various growth industries in the southern China … Read more
The Saudi Arabian General Investment Authority (SAGIA) has announced more than $2bn worth of new petrochemical investment deals, which include a new polyacrylamide plant and an ammonia project in Jubail. The deals were signed in Riyadh between the SAGIA and five chemical majors, namely, German BASF, Anglo-Dutch Shell, Japanese Mitsui & Co, French SNF and … Read more