01 August 2011 12:01 [Source: ICIS news]
LONDON (ICIS)--BASF and specialty chemicals producer Purac have started negotiations to form a joint venture for the production of bio-based succinic acid, the ?xml:namespace>
Purac is a subsidiary of Dutch firm CSM.
The companies have been conducting research on bio-based succinic acid under a joint development agreement since 2009, BASF added.
“We aim to be the first commercial producer in the market with a 25,000 [-tonne] capacity fermentation production plant at the Purac site near
“In addition, we are already planning a world-scale plant with a capacity of 50,000 [tonnes] to account for the expected demand growth. This partnership has enormous potential as it leverages the combined competencies of two leading companies in their fields,” he added.
Andreas Kreimeyer, member of the board of executive directors and research executive director of BASF, said: “Moving towards a joint venture will strengthen our goal to become the leading supplier in the succinic acid market.”
The demand for succinic acid is anticipated to grow strongly in the next few years, driven by bioplastics, chemical intermediates, solvents, polyurethanes and plasticizers, BASF said.
“Through this bio-based succinic acid collaboration, we aim to add another important new growth-pillar to our bio-based polymers and green-chemical business,” said Fabrizio Rampinelli, managing director of Purac.
For more on BASF visit ICIS company intelligence
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|