Industry News

BASF to Close its Belvidere, NJ Manufacturing Site

Published on 2009-01-15. Author : SpecialChem

BELVIDERE, NJ -- BASF announced that it will close its Belvidere, New Jersey, automotive refinish paint manufacturing site by Dec. 31, 2010. The facility, a part of BASF's Coatings Division, manufactures automotive refinish products for the collision repair, automotive refinish and automotive aftermarket industries.

Employees were notified that the approximately 112 positions at the site will be eliminated over the next two years.

"We wanted employees to be aware of this decision as soon as it was made. We regret the impact this decision may have on these employees and their families," said Juan Carlos Ordonez, Group Vice President of BASF's Coatings Regional Business Unit. "The decision is in no way a reflection of the hard work, dedication and professionalism of the colleagues at this facility."

This strategic business decision was made because the Belvidere site is an aging facility and would require significant infrastructure investment to continue operation. Products currently manufactured at the site will be moved to other BASF sites, though specific locations are not yet known.

BASF will work with affected employees to help them locate other employment opportunities within the company, or will provide employees with the appropriate severance compensation and out-placement services.

The company started paint production at the site - located on James Street - in 1985.

About BASF Corporation:

BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 15,000 employees in North America, and had sales of approximately $16.4 billion in 2007. BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from oil and gas to chemicals, plastics, performance products, agricultural products and fine chemicals. As a reliable partner, BASF helps its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges, such as climate protection, energy efficiency, nutrition and mobility. BASF has more than 95,000 employees and posted sales of almost €58 billion in 2007. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).

Source: BASF

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