24 September 2002 00:16 [Source: ICIS news]
MEXICO CITY (CNI)--BASF de Mexico said Monday it will be ready by third quarter 2003 to begin production of Styrolux, its styrene butadiene styrene (SBS) copolymer resin, at its new plant in Altamira, Mexico.
Production equipment is scheduled to arrive in October for installation at the 45 000 tonne/year plant.
BASF currently imports Styrolux to the Americas from two production plants in Europe.
BASF de Mexico also reported that it has completed the purchase of facilities at its Altamira shipping port that were owned by Dutch chemicals distribution and logistics group Vopak. The acquisition is designed to help reduce the company's costs for importing feedstocks.
BASF de Mexico noted that 95% of its imported feedstocks arrive by sea.
North America accounted for 24% of BASF sales in 2001, according US filings. The company declined to provide separate financial results for its operations in Mexico.
BASF de Mexico is a unit of Ludwigshafen, Germany-based BASF AG.
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