BASF and F.A.R. to cooperate on trimethylolpropane
* Production at F.A.R. in Vercelli, Italy
* BASF will take over all marketing and sales and will mothball Ludwigshafen plant
BASF and F.A.R. Fabbrica Adesivi Resine S.p.a (F.A.R.), Cologno Monzese, Italy, have agreed to cooperate for the production, marketing and sale of the polyalcohol trimethylolpropane (TMP). This cooperation is expected to take effect in July 2009. Under the agreement F.A.R. will take over production of TMP for both partners at its Vercelli site near Milan. On the other hand, BASF will be exclusively responsible for the marketing and sales of TMP.
BASF will mothball its TMP plant in Ludwigshafen. This move will affect eight BASF employees, who will assume other jobs at the Ludwigshafen site. The cooperation is subject to the approval of the respective antitrust authorities.
“Polyalcohols are one of our core businesses. By cooperating with F.A.R we further strengthen our TMP business. In the current difficult market situation we are temporarily focusing on one manufacturing site only,” said Dr. Tom Witzel, head of the Regional Business Unit Diols and Polyalcohols of BASF’s Intermediates division. “We have already optimized the Vercelli TMP production together with F.A.R. The quality of the TMP to be produced there will comply with both companies’ standards and meet our customers’ high expectations.”
“We look forward to cooperating with a strong partner like BASF. We contribute our long-standing manufacturing expertise to this collaboration, with BASF adding its global business competencies. This is a win-win situation for our customers as well as the two companies involved,” said Dr. Antonio Moro, Chief Executive Officer, F.A.R. Spa.
TMP is used in the production of polyurethanes, synthetic lubricants and coatings. BASF also manufactures numerous other polyalcohols, for example neopentylglycol (NPG), hexanediol (HDO) and hydroxypivalic acid neopentylglycolester (HPN). Apart from the above applications, these intermediates are also valuable in the production of adhesives and polyester resins.
About F.A.R. Spa
Established in 1963, F.A.R. S.p.A. is a major European producer of formaldehyde and various resins and adhesives. The company is in the lead in Europe especially with respect to the polymerization of vinyl and acrylic monomers. With a workforce of about 200 employees the company posted sales of € 110 million in 2008. For more information, visit http://www.gruppofar.it/far/eng/index.htm.
About BASF’s Intermediates division
The BASF Group’s Intermediates division develops, produces and markets around the world a comprehensive portfolio of more than 600 intermediates. The most important of the division’s product groups include amines, diols, polyalcohols, acids and specialties. Among other applications, intermediates are used as starting materials for coatings, plastics, pharmaceuticals, textile fibers, detergents and crop protectants. Innovative intermediates from BASF help to improve the properties of final products and the efficiency of production processes. The ISO 9001:2000-certified Intermediates division operates plants at production sites in Europe, Asia, and the Americas. Around the globe, 2,655 employees of the division generated sales of about €2.5 billion to third parties in 2008. For more information, go to http://www.basf.de/intermediates.
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics and performance products to agricultural products, fine chemicals as well as oil and gas. As a reliable partner BASF helps its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF posted sales of more than €62 billion in 2008 and had approximately 97,000 employees as of the end of the year. Further information on BASF is available on the Internet at www.basf.com.
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