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BASF Idles Portion of Acrylic Monomers Capacity

Published on 2003-10-20. Author : SpecialChem

Supply is secured by BASF's global network

CHARLOTTE, N.C., October 15, 2003 - In response to current market conditions, BASF will idle a major portion of its acrylic monomers capacities in Freeport, Texas.

For economic reasons, BASF has decided to temporarily close down 150 million pounds of crude acrylic acid capacity as well as its butyl acrylate plant. This will be effective January 1, 2004.

"Idling capacities at this time will allow us to reduce costs and improve operational efficiencies in our global operations," said Joe Breunig, Group Vice President, Functional Polymers for BASF in North America. "At the same time, we retain our flexibility for when market conditions improve. This is very important to us since we have a long- term commitment to the monomers markets."

"Our customers in the merchant market will not be affected by this temporary shut-down," said Frithjof Netzer, Business Director, Acrylic Monomers, BASF Corporation. "As the global leader in acrylic monomers, we will source material via our worldwide network. We will continue to de-liver the high-quality products and services that our customers are accustomed to."

BASF is the world's largest manufacturer of acrylic acid and acrylic esters. Acrylic acid is the most important precursor of super absorbents -- the absorbent component found in diapers and other hygienic articles. Acrylic esters are used to produce architectural coatings, adhesive raw materials, paper coatings, construction chemicals and binders for non-wovens. The business is part of BASF's performance products segment.

BASF is the world's leading chemical company, offering its customers a range of high-performance products, including chemicals, plastics, performance products, agricultural products, fine chemicals as well as crude oil and natural gas. Its distinctive approach to integration, known in German as "Verbund," is its strength. It enables BASF to achieve cost leadership and gives the company a competitive advantage. BASF conducts its business in accordance with the principles of sustainable development. In 2002, BASF had sales of $34 billion and more than 89,000 employees worldwide. BASF Corporation is the North American affiliate of BASF AG, Ludwigshafen, Germany. In North America, 2002 sales were approximately $8.2 billion and the company employs approximately 12,000 people. For more information or to receive news releases by e-mail, visit www.basf.com/usa.

Source: BASF Corporation

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