BASF looks to off-load some of its styrenics business

BASF has received an offer for parts of its styrenics business, the company announced today. The company says it plans to begin discussions with an interested party (so far undisclosed).

The business activities under consideration include styrene monomer, polystyrene, styrene butadiene copolymer and acrylonitrile butadiene styrene, which collectively made €3.2bn in 2006. According to Dr John Feldmann, a member of the board of executive directors, a repositioning is required “to meet appropriate levels of profitability.”

Feldmann said the company will examine this initial offer, as well as considering other options. In the event of a sale, the remaining styrenics businesses will focus on foams and specialities for the construction, automobile, packaging, sport and leisure industries.

Hans W. Reiners, president of BASF’s Styrenics division, said this new focus would tie in with BASF’s plastics strategy of supplying customers with tailor-made products.