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08-09-2010

BASF/Astra Polymer: Joint Venture Plans Scrubbed

BASF SE, Ludwigshafen, Germany, and Astra Polymer Compounding Co., Ltd. based in Al-Khobar, Saudi Arabia, have agreed to cancel plans for a joint venture for production of customer-specific antioxidant mixtures (CSB) in the Middle East. The plans for the joint venture were based on an agreement between Astra Polymer and the Plastic Additives Business Unit of the former Ciba AG, which BASF acquired in 2009. Canceling the joint venture plans is expected to have no effect on the agreement between both companies for contract production of customer-specific antioxidant mixtures in the region.

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