Monday, 16 July 2018 - 13:46
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BASF

BASF to invest €10bn in China

German chemical company BASF announced that it is going to build a new integrated (verbund) chemical plant in China. This plant, which costs around €10bn, is expected to be put into operation by 2026. The venue is yet to be…

BASF to resume production of Vitamin A and E in Ludwigshafen plant

Yesterday, after months of inactivity, BASF resumed production of carotenoids, and vitamin A and E in Ludwigshafen plant. Yesterday the firm ended a Force Majeure declared last October, when a fire severely damaged said Citral production plant. Citral is an…

European competition watchdog approves $66bn Bayer-Monsanto agreement

Bayer has been granted approval to the $66bn acquisition of Monsanto by the European antitrust authorities. The approval is subject to Bayer selling part of its assets–seeds and herbicides–to competitor BASF. Additionally, Bayer has committed to the European Commission to…

BASF markets product for non-alcoholic fatty-liver disease

Whoever believes that BASF is just a manufacturer of industrial chemicals should change its mind. BASF Corp. (a US subsidiary of BASF’s) has announced it has launched Hepaxa for the treatment of NAFLD (Non-Alcoholic Fatty Liver Disease), a condition affecting…

Wintershall (BASF) and DEA increasingly likely to merge

German economic-financial daily Handelsblatt today has reported that BASF is about to sign the merger agreement between its oil & gas subsidiary Wintershall and DEA group, a business of Letter One fund, owned by Russian billionaire Mikhail Fridman. The new…

BASF unveils new plans for Whiteshall division (Oil&Gas)

The Germany-based chemical giant BASF announced on Friday that it plans to merge its Whiteshall oil & gas division with competitor DEA, then to list the new company resulting from the merger. Whiteshall is valued by experts at a minimum…

BASF strikes its largest acquisition ever

Germany-based BASF some days ago announced its largest acquisition ever: indeed, the Ludwigshafen-based group last Friday reported it had successfully completed the negotiations to acquire a significant part of Bayer’s seed business for €5.9bn–that is 15x EBITDA. The acquired asset…

BASF acquires Solvay’s Polyamide unit for €1.6bn

As it was already known, Solvay was searching for a buyer of its Polyamide division and investors were not surprised today as it was announced that the company has sold the asset to Germany-based BASF. BASF paid €1.6bn, corresponding to…

BASF to sell PCM materials business

BASF announced it will sell the rights to Phase-Change-Materials (PCM), a business having Micronal as its main brand, to US-based Microtek Laboratories. As part of the agreement, BASF will divest the Micronal brand and IP packet, but not the Ludwigshafen…

BASF to sell leather business to Stahl

BASF and Stahl signed a complex agreement under which the Ludwigshafen-based group will sell its division manufacturing leather products to the Dutch group, and will receive 16% of Stahl’s equities and €150m in cash. Additionally, as part of the agreement,…

A tough 2016 for BASF

2016 financial year was not the best for BASF, indeed the German chemical group reported a 18% drop in sales (€57.6bn) and a 6% decrease in EBIT (€6.3bn). The hard times experienced by the Ludwigshafen-headquartered group are mainly due to…

Hard times for BASF

The German financial daily Wirtschaftswoche published a long article about the chemistry giant BASF. When Kurt Bock moved into the lead of the Ludwigshafen-based group, the outlook was far different from the current one. For instance, Bock predicted that the…

Revolution in BASF’s board

BASF’s board has undergone a revolution. Margret Suckale, 60, the first woman to join the board, will not renew her contract, expiring next May. She will be replaced by another woman, Saori Dubourg, born to a Japanese mother and a…

BASF sells Volpiano site (Italy) to Gurit

Switzerland-based Gurit announced today it acquired BASF’s Volpiano site, producing PET structural foam and expected to generate a revenue of approximately CHF5m in 2016. The site will be integrated into Gurit’s Composite Materials business unit. (Source Gurit)

BASF’s TDI mega-plant presents new problems

The mega-plant for TDI (polyurethanes) production BASF built in Ludwigshafen is presenting new problems. A significant phosgene release occurred last weekend at the plant, which was immediately halted. The facility cost approximately €1bn and was due to come into service…

BASF to cut 170 jobs in Ludwigshafen

Germany-based chemical group BASF announced a major reorganization program leading to cut at least 170 jobs in Ludwigshafen. The employees involved in the program work in the sales department and half of them will be offered relocation to the Berlin…

The market of cathode material for lithium batteries

The market of cathode material for lithium batteries is undergoing profound transformation, with new dynamics resulting from partnerships being created among the bigs in the business. Johnson Matthey, maybe the top player in the business, has recently entered into a…

Avantium targets the IPO

Netherlands-based Avantium seeks an IPO in the Amsterdam stock-exchange valuing the group at an estimated €300m, German newspaper Die Welt reports, without disclosing the source. The IPO should be managed by ING and KBC. Some days ago Avantium announced the…

A tough third quarter for BASF

Germany-based chemical giant BASF announced yesterday a decrease in sales and earnings in the third quarter of the year, mainly a result of the divestiture of important businesses, such as the gas trading. EBITDA decreased from €1.6bn to €1.5bn, while…

JV between BASF and Avantium for bio-PET

BASF and Netherlands-based Avantium have announced a joint venture for the production and commercialization of furandicarboxylic acid (FDCA) from renewable sources so as to obtain bio-PET (polyethilenterephtalate). The new JV, called Synvina, will be headquartered in Amsterdam and will benefit…

BASF closes 4 plants in Ludwigshafen

BASF will close 4 caprolactam production plants in Ludwigshafen over the next 18 months, yet it ensures that the 80 employees affected by the shake-up will be offered a job in other plants at the site. The measures are caused…