BASF to Close Three Paper Coatings Plants in Europe

BASF said today that it will close three plants in Europe that produce carboxylated styrol butadiene (XSB) by mid-2010. BASF sells XSB for paper coating binder applications. The plants to be closed are located at Guturribay (Spain), Kaipiainen (Finland) and Ribécourt (France).   The capacity of the plants to be closed represents 40% of BASF’s European XSB capacity of 310,000 m.t/year. Specific cost savings that would result from the closures were not disclosed. BASF says that it is closing the plants to “improve its cost structure.”...

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