BASF to establish Styrolution, transfer styrenics activities to separate companies

BASF will transfer its styrenics business at production sites in Germany (Ludwigs­hafen, Schwarzheide), Belgium (Antwerp), Korea (Ulsan), India (Dahej), and Mexico (Altamira) to the new company Styrolution. Separate companies will also be established in other countries, for instance in the USA, Italy or China, where BASF has other styrenic activities, such as marketing and sales. BASF will retain its global business in polystyrene foams. The styrene monomers/polystyrene capacities in Ludwigshafen used to produce foams will also remain with BASF.

According to BASF, Styrolution will be established to make the business more viable. Through this action, the new company will be able to improve its global business and will play a leading role in the styrenics industry, says BASF. BASF currently employs approximately 1,460 people in the styrenics business. Sales of the business were about EUR 2.5 billion in 2009. The carve-out is to be completed by 1 January 2011.