18 September 2012 09:25 [Source: ICIS news]
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The plants in Pasir Gudang
“In light of high overcapacities and low margins in some regions, BASF is focusing its global Styropor (EPS) activities on strategic markets and core products with better profitability,” the company said.
A total of 115 employees will be affected – 60 in
“BASF will work with employees affected by the shutdowns to find the right transition plan,” it said.
The plants’ closure “has become inevitable”, the company said citing “uneconomic operations” as “high EPS overcapacities in Asia Pacific that have developed in recent years” led to “extremely low margins”, said Giorgio Greening, head of the global business unit for foams at BASF.
In South America, BASF currently has around 80 employees and a production capacity of 83,500 tonnes/year, it said.
“BASF has started the preparations of a carve-out of the Styropor business and production at its sites in
BASF is currently looking for a strategic investor for Aislapol, which has around 175 employees, that is committed to the EPS foaming business.
“Globally, we are focusing our EPS investments on Neopor. The carve-out of the Styropor business in
Neopor – a silver-gray colored product with improved insulation properties, enhanced by its graphite content – contributes significantly to energy efficiency in buildings and houses while reducing carbon dioxide emissions, BASF said.
BASF produces Neopor in
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