Regions :: North Asia :: Korea
BASF Exits the Lysine Business...
12:07 PM MDT | July 26, 2007 | Chemical Week Editorial Staff
BASF has decided to quit the lysine business less than 10 years after it entered the sector. BASF will close a 100,000-m.t./year lysine unit at Gunsan, Korea by mid-year with the loss of about 180 jobs. The company entered the lysine market in 1998, acquiring the Gunsan plant from Daesang (Seoul) for $600 million. The plant supplied about 20% of the global lysine market at that time. BASF says the closure reflects “rising raw material costs, overcapacities, and high dependency on exports.” The Gunsan operation “is no longer sustainable”...
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