Company News
September 3, 2024
BASF to Shutter Adipic Acid in Ludwigshafen
BASF to shut down adipic acid production at Ludwigshafen next year
Tom Brown
29-Aug-2024
LONDON (ICIS)–BASF is to end production of adipic acid and several downstream units at Ludwigshafen, Germany, as part of structural changes underway at the site, the company said on Thursday.
Production of adipic acid will conclude at the site over the course of 2025, while units to manufacture cyclododecanone (CDon) and cyclopentanone (CPon), which utilize adipic acid as a raw material, will cease in the first half of the year.
The company is planning to cut around €1 billion in costs from the site, with new CEO Markus Kamieth expected to fully set out what steps will be taken at the company’s capital markets day in September this year.
The company had already cut back adipic acid production capacity at the site in 2023, but had kept a some capacity onstream to feed into those downstream units.
BASF expects to cease deliveries of CDon and CPon, which are used in nylon 12 and pharmaceuticals production respectively, and is in talks with customers, the company added.
It will continue to produce adipic acid in Onsan, South Korea, and Chalampe, France, BASF added.
The decision was taken as part of the ongoing strategic review of site operations to “ensure competitiveness under changing market conditions”, the company said in a statement.
Around 180 workers will be affected by the closures, with BASF planning to explore the possibility of employment positions elsewhere within the group.
“These closures are part of the development of a long-term target picture for the transformation of the Ludwigshafen site,” said BASF industrial relations director Katja Schwarpwinkel.
August 29, 2024
More Strikes at Brandenburg
SEIU Monument Chemical workers in Brandenburg Ky go on strike at midnight tonight
Berry Craig
21 Aug, 2024
In addition to IBEW and UA workers on strike at Monument Chemical, 120 SEIU members who run the plant operations will walk out at 12:01 am Thursday morning. All of this comes after we have had our brothers and sisters of CWA and Machinists go out earlier this week. In addition to all of the solidarity you have shown recently, please reach out to our strong sister Alexis Hardesty to find out what their needs are.
In solidarity,
Dustin
https://ky.aflcio.org/news/seiu-monument-chemical-workers-brandenburg-ky-go-strike-midnight
August 28, 2024
Adnoc and Covestro Update
Adnoc Finishes Due Diligence on €12 Billion Covestro Deal
ByEyk Henning and Dinesh NairAugust 28, 2024 at 6:54AM EDT
(Bloomberg) — Abu Dhabi National Oil Co. has largely completed due diligence on its planned bid for German chemical company Covestro AG, paving the way for the state-owned energy firm’s biggest-ever deal, people familiar with the matter said.
Adnoc could move forward with an €11.7 billion ($13 billion) offer for Covestro as soon as September, the people said. It has finished site visits to major Covestro plants as part of its in-depth confirmatory due diligence and hasn’t discovered any red flags, according to the people.
The Middle Eastern company still needs final signoff from senior officials for the planned bid of €62 per share, which may take several more weeks, the people said, asking not to be identified because the information is private. Shares of Covestro jumped as much as 5.7% in Frankfurt trading Wednesday to touch €56.90, the highest intraday level since January 2022.
Representatives for Adnoc and Covestro declined to comment.
After more than a year of negotiations, Covestro in June agreed to exchange information with Adnoc to help it firm up the prospective bid. Adnoc said at the time that a potential bid of €62 per share was its final offer, indicating it wouldn’t be raising any further after already bumping several times from its first proposal of €55 per share.
Backed by tens of billions of dollars of oil money, Adnoc has been scouring the world for deals. Chemicals are a big part of that push, as the company sees demand for products used to make goods such as plastics continuing to rise over the coming decades, while the energy transition is likely to slow oil demand.
August 27, 2024
Covestro Invests
Covestro invests $40M in R&D upgrades in Pittsburgh
Covestro is committing $40 million to enhance its research and development capabilities in Pittsburgh, strengthening its innovation efforts and supporting advanced materials science.
By Prakriti Mitra Published on August 27, 2024, 07:55 EDT
Image credits – welt.de
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Covestro, a global leader in high-tech polymer materials, has announced a $40 million investment to upgrade its research and development (R&D) facilities in Pittsburgh. This significant commitment is aimed at bolstering the company’s innovation capabilities, particularly in the area of advanced materials science, which is crucial for driving future growth and meeting evolving market demands.
The investment will be used to modernize and expand Covestro’s existing R&D infrastructure, ensuring that the company remains at the forefront of material science innovation. The enhancements will include the introduction of cutting-edge equipment, upgraded laboratories, and expanded research spaces. These improvements are designed to facilitate more efficient and effective research, enabling Covestro to accelerate the development of new materials and technologies that address the needs of various industries.
Covestro’s Pittsburgh site has long been a central hub for the company’s R&D activities, and this investment reaffirms the site’s importance within the company’s global operations. By strengthening its R&D capabilities in Pittsburgh, Covestro is positioning itself to better respond to the growing demand for sustainable and innovative material solutions.
The upgrades are expected to significantly enhance the company’s ability to innovate in areas such as automotive, construction, electronics, and healthcare, where advanced materials play a critical role. Covestro’s R&D efforts focus on developing materials that are not only high-performing but also environmentally friendly, aligning with the company’s commitment to sustainability.
In addition to advancing its research initiatives, the $40 million investment will also support job creation and economic growth in the Pittsburgh region. The expansion of the R&D facilities is likely to attract top talent to the area, further solidifying Pittsburgh’s reputation as a hub for innovation and technology.
This investment is part of Covestro’s broader strategy to strengthen its position as a leader in the global materials science industry. By enhancing its R&D capabilities, Covestro aims to accelerate the development of next-generation materials that meet the challenges of today’s rapidly changing markets.
August 21, 2024
Stockmeier & BASF Team Up for Sustainable Products
Joint News Release
BASF and STOCKMEIER Urethanes USA, Inc. partner to offer more sustainable polyurethane playground and recreational surfacing products
- BASF supplies STOCKMEIER Urethanes with BMB Lupranate MDI for the manufacturing of their Stobielast S binders
FLORHAM PARK, NJ and CLARKSBURG, WV, AUGUST 20, 2024 – BASF and STOCKMEIER Urethanes USA, Inc. (“STOCKMEIER Urethanes”) have announced the commercial production of Stobielast® S polyurethane binders for playground and recreational surfacing made with 100% domestically produced Biomass Balance (BMB) Lupranate® methylene diphenyl diisocyanate (MDI). BASF produces the BMB MDI at its Verbund site in Geismar, Louisiana. This achievement represents a pivotal milestone in the surfacing industry and highlights both companies’ commitments to driving a more sustainable future.
The use of BMB Lupranate in the polyurethane manufacturing process allows STOCKMEIER Urethanes to leverage more sustainable solutions without the need for reformulations, new production equipment or changes to its supply chain. Creating polyurethane binders from mass balanced isocyanates complements STOCKMEIER Urethanes’ efforts to promote environmental stewardship and a more circular economy. The Stobielast S product line also includes water-based & solvent-free coatings, GREENGUARD and GREENGUARD GOLD certified products, and U.S. Department of Agriculture (USDA) Certified Biobased labeled products.
“With playground season in full swing across North America, we are excited to team with BASF and become the first U.S. polyurethane pour-in-place (PIP) binder manufacturer to forge a domestic partnership over BASF’s BMB isocyanates,” said Christian Martinkat, President and CEO of STOCKMEIER Urethanes USA, Inc. “This collaboration marks a significant advancement toward enhancing product innovation and expanding manufacturing capabilities in the surfacing industry. We can take a big step toward greater sustainability of our products by offering a version of our high-quality PIP binders produced with renewable feedstock-based MDI. This partnership advances our goal of reducing STOCKMEIER Urethanes’ carbon footprint worldwide.”
“At BASF’s Monomers division, we are proud to partner with STOCKMEIER Urethanes as the company scales up its more sustainable production of PIP binders using BMB MDI,” said Stefan Doerr, Senior Vice President, Monomers North America at BASF. “All of our BMB MDI products are certified according to globally recognized ISCC PLUS and REDcert² standards and produced right here in the United States.”
BASF aims to achieve net zero emissions by 2050. Bio-circular feedstocks used to make BMB MDI play an important role in reducing the product carbon footprint (PCF), which sums up the total greenhouse gas (GHG) emissions generated by a product over the different stages of its life cycle. BASF’s Monomers division is following an ambitious sustainability roadmap and will expand its portfolio of products with a lower CO2 footprint while committing to providing a circular option in every major product line by 2025.
Like BASF, STOCKMEIER Urethanes is deeply committed to sustainability, actively participating in the Responsible Care initiative through the American Chemistry Council (ACC) to enhance health, safety and environmental practices. The company implements various sustainability measures, such as waste reduction and energy efficiency in its production processes. By prioritizing sustainability across its operations and collaborating with stakeholders including customers, suppliers, and industry partners, the company strives for responsible growth and innovation, aiming meet the market demand for greener solutions.
To learn more about BASF’s 100% BMB Lupranate and its certification process, visit https://polyurethanes.basf.us/about-us/sustainability.
To learn more about STOCKMEIER Urethanes’ sustainability commitments, visit https://www.stockmeier.com/en/responsibility/sustainability. To inquire about the Stobielast® S product line, please reach out at info@stockmeier.us.com.
Always read and follow label directions. Stobielast is a registered trademark of STOCKMEIER Urethanes. Lupranate is a registered trademark of BASF. (C) 2024, BASF Corporation. All Rights Reserved.
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