Company News
September 6, 2021
BASF Increasing Systems Prices
BASF to increase prices for polyurethane systems products in North America
WYANDOTTE, MI, September 3, 2021 – BASF will increase prices for polyurethane systems products in North America by $0.11/lb for orders shipping on or after October 1, 2021, or as contracts allow.
September 6, 2021
BASF Increasing Systems Prices
BASF to increase prices for polyurethane systems products in North America
WYANDOTTE, MI, September 3, 2021 – BASF will increase prices for polyurethane systems products in North America by $0.11/lb for orders shipping on or after October 1, 2021, or as contracts allow.
September 6, 2021
BASF Force Majeure on MDI Products
Sept 3, 2021
Subject: Force Majeure
Dear Valued Customer:
Hurricane Ida made landfall in the southeast region of Louisiana on August 29, 2021 and caused
unprecedented damage in New Orleans and Baton Rouge, LA as well as the surrounding areas. First
and foremost, BASF is taking necessary steps to support our employees and properly safeguard
operations and local communities.
As a result of the impact of Hurricane Ida, which is beyond BASF’s reasonable control, we regret to
inform you that we must declare force majeure on MDI and MDI containing products effective
immediately.
While it appears that the Geismar site has minimal damage from the storm, operations at the site have
not yet resumed due to supply chain and logistics impacts. BASF is restricted in its ability to receive
critical raw materials & utilities, manufacture product, and ship materials at our site. All modes of
transportation have been impacted including port closures, road closures, rail system interruptions,
carrier wash closures, and limitations in availability of bulk carriers. The restart of operations is
contingent on obtaining adequate and consistent supply of utilities and critical materials from suppliers.
Given the operational and logistical constraints, the duration of the force majeure is unclear at this time.
Your BASF account manager will be in contact with you to discuss the status of current and future orders.
We appreciate your patience during this challenging period and will keep you informed as the situation
progresses.
September 6, 2021
BASF Force Majeure on MDI Products
Sept 3, 2021
Subject: Force Majeure
Dear Valued Customer:
Hurricane Ida made landfall in the southeast region of Louisiana on August 29, 2021 and caused
unprecedented damage in New Orleans and Baton Rouge, LA as well as the surrounding areas. First
and foremost, BASF is taking necessary steps to support our employees and properly safeguard
operations and local communities.
As a result of the impact of Hurricane Ida, which is beyond BASF’s reasonable control, we regret to
inform you that we must declare force majeure on MDI and MDI containing products effective
immediately.
While it appears that the Geismar site has minimal damage from the storm, operations at the site have
not yet resumed due to supply chain and logistics impacts. BASF is restricted in its ability to receive
critical raw materials & utilities, manufacture product, and ship materials at our site. All modes of
transportation have been impacted including port closures, road closures, rail system interruptions,
carrier wash closures, and limitations in availability of bulk carriers. The restart of operations is
contingent on obtaining adequate and consistent supply of utilities and critical materials from suppliers.
Given the operational and logistical constraints, the duration of the force majeure is unclear at this time.
Your BASF account manager will be in contact with you to discuss the status of current and future orders.
We appreciate your patience during this challenging period and will keep you informed as the situation
progresses.
September 3, 2021
Covestro to Cut Jobs
Germany’s Covestro to cut up to 10% of jobs worldwide, newspaper reports
Contributor Zuzanna Szymanska Reuters Published Sep 3, 2021 2:23AM EDT
German chemicals maker Covestro plans to cut up to 1,700 of its 16,500 jobs worldwide, the Rheinische Post newspaper reported.
Adds details
Sept 3 (Reuters) – German chemicals maker Covestro 1COV.DE plans to cut up to 1,700 of its 16,500 jobs worldwide, the Rheinische Post newspaper reported.
In Germany, the maker of foam chemicals and hard plastics could cut up to 950 jobs out of 7,600, the paper said in its report on Thursday, citing trade union circles.
Covestro confirmed the figures as a first preliminary estimate. A further update would come in the coming months, the company’s spokeswoman told Reuters on Wednesday, saying the move was part of the company’s restructuring plan implemented on July 1.
“We are now looking into all our activities and processes and see if they fit with the strategy and how they contribute to it. This also means personnel adjustments,” the spokeswoman said.
She said the adjustments, which Covestro would make in cooperation with employee representatives, would take place until the end of 2023.
(Reporting by Zuzanna Szymanska in Gdansk; Editing by Clarence Fernandez and Edmund Blair)
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