BASF Carves Out Styrene Business

BASF has announced the establishment of Styrolution, which will be carved out of its its businesses in styrene monomers (SM), polystyrene (PS), acrylonitrile butadiene styrene (ABS), styrene butadiene copolymers (SBC) and other styrene-based copolymers and establish separate companies. BASF will retain its global business in polystyrene foams. The SM/PS capacities in Ludwigshafen used to produce foams will also remain with BASF. The carve-out is to be completed by Jan. 1.

BASF will transfer its styrenics business at production sites in Germany (Ludwigshafen, Schwarzheide), Belgium (Antwerp), Korea (Ulsan), India (Dahej) and Mexico (Altamira) to Styrolution. Separate companies will also be established in other countries, for instance in the U.S., Italy or China, where BASF has other styrenic activities, such as marketing and sales.

BASF currently employs approximately 1,460 people in the styrenics business. Sales of the business were about €2.5 billion in 2009.