As part of its plans to restructure and significantly improve profitability in the styrenics value chain, and shape the business sustainability, BASF plans to sell its styrene monomer site situated within SK's production complex in Ulsan to SK Energy. The deal includes BASF’s 320,000 tpa styrene monomer plant along with 50,000 sq mtrs. Financial details have not been disclosed.
A supply glut in the region led to BASF to idle the South Korean styrene monomer plant in Ulsan in October 2008. BASF has managed to supply its Asian customers with polystyrene, acrylonitrile-butadiene-styrene copolymer (ABS) and expandable polystyrene (EPS) from an alternative site.