Industry News

BASF to Invest EUR 50M to Increase Capacity of MDI Site to 250,000 t/a

Published on 2011-06-14. Author : SpecialChem

Yeosu, Korea -- BASF, the world's leading chemical company, signed a Memorandum of Agreement to expand its Yeosu facility for MDI (diphenylmethane diisocyanate).

The ceremony was attended by Park Joon-Yung, Governor of Jeollanamdo Province, Kim Chung-Seog, Mayor of Yeosu City, Wayne T. Smith, President of BASF Polyurethanes, Dr. Melanie Maas-Brunner, Senior Vice president of BASF Asia Pacific Polyurethane business and Chin-wook Cho, CEO of BASF Korea.

BASF and other companies will collectively invest a total of KRW 80 billion (approximately EUR50 M) in Yeosu Industrial Complex between 2011 and 2012, increasing the capacity of the MDI site from its current 190,000 t/a to 250,000 t/a. Around 40 new jobs will be created through the expansion.

"This investment will help us secure reliable supply to our customers not only in Korea, but also throughout the Asia Pacific region," said Wayne Smith. "It demonstrates our strong commitment to the polyurethane industry and to supporting our customers' dynamic growth."

"According to our Asia Pacific Strategy 2020, we will invest EUR2.3 billion in the Asia Pacific region between 2011-2015. With this investment we are supporting the plans of Jeollanamdo Province for rapid and sustainable development. At the Yeosu site, we are producing products that help our customers increase energy efficiency and lower carbon emissions," said Albert Heuser, President, Market and Business Development Asia Pacific for BASF.

BASF's Yeosu site was established in 1998 and currently has an annual production capacity of 190,000 tons of MDI, 160,000 tons of TDI (toulene di-isocyanate), and 20,000 tons of CCD (Carbonyl Chloride Derivatives). The site employs 280 people and was designated a foreign investment area in 2000.

About BASF Polyurethanes

BASF is the leading supplier of Polyurethane Solutions for systems, specialties and PU basic products. With its global network of 38 polyurethane system houses and its comprehensive product and service portfolio, BASF is the preferred partner of its customers in many industries. With its world-scale plants, BASF secures its leading market position in the production of polyurethane basic products in all regions of the world. Polyurethanes make life more comfortable, safer and more pleasant while helping to save energy sustainably. They contribute towards improved insulation of buildings and more attractive, lightweight design of cars. Producers of shoes, mattresses and household goods as well as sports equipment use the unique advantages of polyurethanes provided with the knowledge and expertise of the polyurethane experts of BASF world-wide.

About BASF

BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and agricultural products to oil and gas. As a reliable partner BASF creates chemistry to help its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF posted sales of about €63.9 billion in 2010 and had approximately 109,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).

Source: BASF

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