Company News
July 19, 2022
BASF Approves Final Phase of MDI Expansion
BASF confirms final phase of MDI expansion at Geismar Verbund site
- Annual production capacity to be increased to 600,000 metric tons by the middle of the decade
- Total investment of $780 million for the final expansion phase
FLORHAM PARK, NJ and GEISMAR, LA, July 19, 2022 – BASF is moving forward with the final phase of the expansion project for the methylene diphenyl diisocyanate (MDI) plant at its Verbund site in Geismar, Louisiana. With this third step of its multiphase capacity expansion, BASF will increase production capacity to 600,000 metric tons per year by the middle of the decade and support the ongoing growth of its North American MDI customers. The company kicked off the expansion project in 2018 with a staggered approach consisting of three investment phases. The investment in the final expansion phase from 2022 to 2025 amounts to $780 million.
“This investment underlines our commitment to North America and strengthens BASF’s supply reliability and the competitiveness of our customers’ value chains in the region,” said Michael Heinz, Chairman and Chief Executive Officer, BASF Corporation. “As one of BASF’s Verbund sites, the Geismar location is ideally suited for the expansion of our MDI production thanks to its existing infrastructure, reliable raw material supply, skilled workforce and strong community support.”
Leveraging state-of-the-art technology, the expansion will showcase the highest safety standards combined with advanced digitalization in its operations. BASF is now entering the final phase of the expansion, targeted for completion by the end of 2025.
“BASF is committed to growing and partnering with our North American MDI customers, be it in the construction and appliance, transportation, automotive, footwear or furniture sectors,” said Ramkumar Dhruva, President of BASF’s Monomers division. “With this integrated facility, we will continue to support our North American MDI customers by growing our capacity to meet their needs.”
The first phase of the expansion project involving the construction of a new MDI synthesis unit was put in operation in October of 2020. The second phase, which started operations in 2021, expanded several existing upstream units. With the third and final expansion phase, which includes several new upstream units and a splitter, the new overall MDI output of the Geismar complex will increase to 600,000 metric tons.
July 19, 2022
BASF Approves Final Phase of MDI Expansion
BASF confirms final phase of MDI expansion at Geismar Verbund site
- Annual production capacity to be increased to 600,000 metric tons by the middle of the decade
- Total investment of $780 million for the final expansion phase
FLORHAM PARK, NJ and GEISMAR, LA, July 19, 2022 – BASF is moving forward with the final phase of the expansion project for the methylene diphenyl diisocyanate (MDI) plant at its Verbund site in Geismar, Louisiana. With this third step of its multiphase capacity expansion, BASF will increase production capacity to 600,000 metric tons per year by the middle of the decade and support the ongoing growth of its North American MDI customers. The company kicked off the expansion project in 2018 with a staggered approach consisting of three investment phases. The investment in the final expansion phase from 2022 to 2025 amounts to $780 million.
“This investment underlines our commitment to North America and strengthens BASF’s supply reliability and the competitiveness of our customers’ value chains in the region,” said Michael Heinz, Chairman and Chief Executive Officer, BASF Corporation. “As one of BASF’s Verbund sites, the Geismar location is ideally suited for the expansion of our MDI production thanks to its existing infrastructure, reliable raw material supply, skilled workforce and strong community support.”
Leveraging state-of-the-art technology, the expansion will showcase the highest safety standards combined with advanced digitalization in its operations. BASF is now entering the final phase of the expansion, targeted for completion by the end of 2025.
“BASF is committed to growing and partnering with our North American MDI customers, be it in the construction and appliance, transportation, automotive, footwear or furniture sectors,” said Ramkumar Dhruva, President of BASF’s Monomers division. “With this integrated facility, we will continue to support our North American MDI customers by growing our capacity to meet their needs.”
The first phase of the expansion project involving the construction of a new MDI synthesis unit was put in operation in October of 2020. The second phase, which started operations in 2021, expanded several existing upstream units. With the third and final expansion phase, which includes several new upstream units and a splitter, the new overall MDI output of the Geismar complex will increase to 600,000 metric tons.
July 18, 2022
More On Carpenter/Recticel
CMA opens phase 2 investigation
Occasional information, Brussels, 18/07/2022 — 09:58 CET, 18.07.2022
As of this morning, the UK Competition and Markets Authority (the “CMA”) has published its decision that the remedy undertakings offered by Carpenter cannot be accepted by the CMA under the Enterprise Act 2002 and that it will refer the case to Phase 2 (the CMA’s publication can be found here.
This means that the CMA will investigate in more detail what impact the intended transaction will have on competition, and what remedy undertakings could be committed to by the parties in order to allow for clearance of the transaction.
Recticel is currently analyzing the impact of the CMA’s decision together with Carpenter and will provide an update about any further development in due time.
https://www.recticel.com/cma-opens-phase-2-investigation.html
July 18, 2022
More On Carpenter/Recticel
CMA opens phase 2 investigation
Occasional information, Brussels, 18/07/2022 — 09:58 CET, 18.07.2022
As of this morning, the UK Competition and Markets Authority (the “CMA”) has published its decision that the remedy undertakings offered by Carpenter cannot be accepted by the CMA under the Enterprise Act 2002 and that it will refer the case to Phase 2 (the CMA’s publication can be found here.
This means that the CMA will investigate in more detail what impact the intended transaction will have on competition, and what remedy undertakings could be committed to by the parties in order to allow for clearance of the transaction.
Recticel is currently analyzing the impact of the CMA’s decision together with Carpenter and will provide an update about any further development in due time.
https://www.recticel.com/cma-opens-phase-2-investigation.html
July 14, 2022
Furniture Woes
Furniture manufacturer announces changes to Mississippi facility, layoff of 300 jobs
Published 5:55 am Saturday, July 2, 2022
One of the largest furniture manufacturers in the state has announced that it is laying off 300 workers in Mississippi and North Carolina.
Furniture Today reports that United Furniture Industries Inc., which is known to consumers as Lane Home Furnishings, will be transforming a manufacturing factory in Amory to a warehousing-only facility; closing a metal stamping facility in High Point, NC.; and transitioning a Winston-Salem, N.C. operation to an East Coast distribution center.
Company CEO Todd Evans said the reason for the layoffs is because the industry is experiencing a drastic decrease in consumer demand.
In all, 300 employees will be laid off, but it is not clear how many of those jobs will be in Mississippi.
The changes will leave the company with 2,700 employees in three states and Vietnam.
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