BASF to discontinue plans for a joint venture to with Astra Polymer in Saudi Arabia

03-Jul-10
BASF and Astra Polymer Compounding Co., Ltd. have decided to discontinue plans for a joint venture to produce customer specific antioxidant blends (CSB) in the Middle East Region. The joint venture plans were based on an agreement between Astra Polymer and the Plastic Additives business of former Ciba AG which has been acquired by BASF in 2009. The termination of the joint venture plans will have no impact on the existing tolling agreement between the companies to produce customer specific antioxidant blends for the region. “We are convinced of the strategic importance of the Middle East Region and the need for a local production unit for customer specific blends,” says John Frijns, Senior Vice President Plastic Additives Europe/EAWA at BASF. “A thorough evaluation following the integration of the legacy Ciba Plastic Additives business into BASF has furnished new options that will deliver more value to both, our customers and BASF”, Frijns explains. As the leading Plastic Additives supplier worldwide, BASF is committed to support polymer growth in the Middle East with local production as well as the services that customers demand in the Middle East Region. The company is currently finalizing its evaluation of several investment options for the production of customer specific antioxidant blends.
  More News  Post Your Comment

Previous News

Next News

{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha