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BASF to Sell Styrene Site in Korea to SK Energy

7:07 AM MDT | August 6, 2009 | Deepti Ramesh

BASF says that it will sell its styrene monomer plant at Ulsan, Korea, which has been idled since October 2008, to SK Energy (Seoul). The sale includes the 320,000-m.t./year styrene monomer plant and the 50,000-sq meter site, situated within SK energy’s production complex at Ulsan. Financial details of the deal were not disclosed. “The styrene monomer plant in Ulsan has been idled since October 2008 because of an oversupply in the regional market,” says Hyung Tae Chang, group v.p./Styrenics Asia at BASF. “We are now obtaining styrene...

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