Euro Finance: BASF accelerates Ludwigshafen closures

28 November 2001 13:52  [Source: ICIS news]

LONDON (CNI)--German chemicals group BASF has brought forward plans to close temporarily 60 plants in Ludwigshafen, Germany because of worse than expected market demand.

Stefan Marcinowski, BASF research executive director, said here Wednesday that the first units were shut several days ago - some two weeks ahead of plans announced earlier this month.

He told delegates at the European Financial and Investment conference* that part of the Styropol expandable polystyrene (EPS) production has been closed, as well as an acrylic acid unit. BASF revealed last week that it was cutting Styropol output in Ludwigshafen by 25%.

Marcinowski said the Styropol plant would probably be shut for five to six weeks and the acrylic acid unit for at least two to three weeks.

He admitted that demand had been lower and inventories higher than envisaged when proposals were drawn up to close in December 25-30% of Ludwigshafen's output.

*The European Chemical Industry Finance and Investment conference is organised by CNI's sister publications ECN and Chemical Insight and sponsored by Merrill Lynch. It concludes today.

By: Neil Sinclair
+44 20 8652 3214

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