05 October 2012 09:02 [Source: ICIS news]
SINGAPORE (ICIS)--BASF is forming a 50:50 joint venture with CSM of the ?xml:namespace>
The joint venture firm that will be operational in 2013 will be named Succinity GmbH, with its headquarters in
Financial details of the joint venture were not disclosed.
“BASF and CSM are currently modifying an existing fermentation facility at Purac’s Montmelo site near
Purac is a subsidiary of CSM that is engaged in the business of food preservation, green chemicals and polymers produced from lactic acid.
The converted plant will have a 10,000 tonne/year succinic acid capacity and is due to start operations in late 2013, BASF said.
A second large-scale facility with a 50,000 tonne/year succinic acid capacity will also be built in view of the expected increase in demand for the product, the company said.
“The final investment decision for this [large-scale] facility will be made following a successful market introduction,” BASF said.
CSM is a global market leader in lactic acid and its derivatives, and is the largest supplier of bakery products, according to the statement.
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