03 December 2008 08:48 [Source: ICIS news]
SINGAPORE (ICIS news)--BASF will spend about €500m-550m ($395-435m) in implementing the EU's new Reach chemicals controls policy by the final 2018 deadline, the world’s leading chemical producer said on Wednesday.
"Reach is an important and necessary reform of European chemicals legislation," BASF said in a statement.
The Reach registration, evaluation, authorisation and restriction of chemicals scheme requires chemical substances manufactured in or imported into ?xml:namespace>
The policy paves the way for harmonised legislation for the chemical industry as Reach requires chemicals to be tested for effects on human health and on the environment.
BASF has submitted about 40,000 pre-registrations with ECHA in
The company was rushing last week in the run-up to the deadline due to overload at ECHA’s pre-registration system, which has been in operation since late June.
"The interpretation of the Reach regulation may lead to an extensive additional workload," said BASF.
The six-month pre-registration phase for Reach ended at 24:00 on Monday 1 December with more than 2.2m pre-registrations covering more than 100,000 substances, exceeding the ECHA's expectations by about 15 times, it sid late on Tuesday.
Substances that have not been pre-registered will not be allowed to be manufactured in or imported to the EU from the end of preregistration until their final registration.
The running total of Reach pre-registrations and other data are shown on the ECHA home page
($1 = €0.79)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|