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NEWS


NEWS IN BRIEF...


Environmental technology firm Agilyx and styrene monomer maker AmSty have signed a letter of intent to form a JV to take charge of the former’s Oregon facility in the US, which converts used PS back to liquid styrene monomer via the PolyUs- able process. The intention is to develop a 5 tonnes/ day PS recycling facility. www.agilyx.com https://amsty.com/


US-based engineering plastics distributor Conventus Polymers has opened a new satellite office and expanded warehouse in Houston, Texas. The new location will help the company enter the growing oil and gas industry, where it sees strong potential for increased use of engineer- ing plastics as a replace- ment for steel, and to service the Southwest US region and Mexico. www.conventuspolymers.com


Oxea has declared force majeure and restricted the supply of certain products from its production plant at Oberhausen in Germany until further notice. The move is the result of disruption of synthesis gas production by Air Liquide at the same site, leading to it being shut down. The company said on 20 November it had informed customers but could not provide information on how long this will last. www.oxea-chemicals.com


8


BASF’s future strategy has “verbund” at core


BASF has presented a new future strategy, which is intended to achieve above- average organic business growth through stronger customer focus, simplified structures and processes, a more targeted product portfolio, and strengthening of its verbund (integrated) manufacturing concept. “We will transform our


organisation to be more customer-focused and agile,” said Dr Martin Brudermüller, chairman of the board of executive directors. Key financial targets include an increase in EBITDA before special items of 3-5%/year, with a return on capital employed well above the cost of capital. To this end, BASF is beginning a new programme focused on production, logistics, R&D, digitalisation, and organisa- tional development that will run from 2019 until 2021 and is intended to achieve annual earnings contributions of €2bn from the end of 2021. Non-financial targets include maintaining greenhouse gas emissions at 2018 levels until 2030


BASF’s strategy aims to maximise potential of its “verbund” manufacturing system


despite the planned production growth, particu- larly at major new planned investments such as its verbund site in China’s Guangdong province. The company also wants to generate around €22bn in annual sales through Accelerator products, which “make a substantial sustain- ability contribution in the value chain” by 2025. In addition, BASF will


restructure its operations into six segments with increased decision-making authority from the beginning of 2019, all bar one of them containing two operating divisions. These include Materials (Performance


Materials and Monomers) and Industrial Solutions (Dispersions & Pigments and Performance Chemicals). Some 20,000 of its approxi- mately 110,000 global workforce may be affected by these changes, it said. n BASF said sales in Q3 rose by 8% year-on-year to reach €15.6bn. This was mainly due to higher selling prices in all segments, plus volume growth and acquisitions. Income from operations before special items de- clined by €232m to €1.5bn. Business was impacted by the very low water levels on the River Rhine, which are disrupting logistics. � www.basf.com


Lifocolor expands in France


Germany’s Lifocolor Farben, a manufacturer of colour masterbatches, additive prepara- tions and compounds, is to invest more than €5m in a new plant at Izernore in France. The new 5,300m2


on a 15,000m² site with potential for future expansion. Commissioning is scheduled for 2H 2019 and, once complete, Lifocolor said the company will have 2,500 tonnes/yr of


COMPOUNDING WORLD | December 2018 building will be located


masterbatch capacity in France. The company said the new investment is needed because its existing plant at Bellignat has reached its capacity limit. It added that the expansion “will allow for individual colour developments and productions to be handled with even more flexibility and shorter lead times”. � www.lifocolor.com


www.compoundingworld.com


PHOTO: BASF


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