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BASF Sells Brazilian Polystyrene Business

8:35 AM MDT | September 15, 2009 | Lindsey Bewley

BASF says it will sell its Brazilian polystyrene (PS) business to Companhia Brasileira de Estireno (CBE), a subsidiary of Unigel (Sao Paulo). The deal includes BASF’s 190,000-m.t./year PS plant at Sao Jose dos Campos. All employees will be retained by CBE, the company says. Financial details were not disclosed. “Given the current economic environment, we are taking steps to improve the profitability of our core styrenics business and strengthen our market position,” says Joachim Streu, head of BASF’s styrenics business. The company...

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