Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Xetra  >  BASF    BAS   DE000BASF111

BASF (BAS)
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

BASF SE : BASF to build new formic acid plant in Geismar, Louisiana

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/04/2012 | 08:05pm CEST

FLORHAM PARK, NJ, May 4, 2012 -- BASF today announced its plans to build a state-of-the-art production plant for formic acid at its integrated "Verbund" site in Geismar, Louisiana. The new plant will create 20 new jobs and have an annual capacity of more than 50,000 tons.

It will be the only formic acid plant in North America and will allow BASF to serve strategic markets in North and South America better, including applications for pharmaceuticals, energy, animal nutrition, leather and cleaning products. Start-up of the new plant is expected in the second quarter of 2014.

BASF's customers use formic acid as an eco-efficient solution in a wide range of applications such as in animal feed where it provides protection of the feed and supports the health of the animal itself.

Potassium formate, a salt of formic acid, is an environmentally friendly and highly efficient de-icing agent used on roads and airport runways. It is easily biodegradable, thereby, protecting aquatic wildlife in nearby rivers and watersheds.

Both formic acid and potassium formate are also used in the oil field industry as part of the drilling and completion process, as well as in shale gas exploration to promote extraction. Formic acid is an excellent de-scaling agent as well, and is used in industrial cleaning to remove various mineral deposits from desalination plants, refineries and other processing industries.

"The new plant further strengthens our position as a leading supplier of chemistry for sustainable solutions," said Hans Engel, Chairman and Chief Executive Officer of BASF Corporation, who made the announcement during a press conference at BASF's new regional headquarters building in Florham Park, New Jersey.

BASF currently operates two formic acid plants located at the company's integrated Verbund sites in Ludwigshafen, Germany, andNanjing, China,with a total annual capacity of 255,000 metric tons.

"This investment demonstrates our commitment to the increasing market demand in North and South America driven by current and new applications of this versatile product. We will be able to serve our customers better with shorter lead times and greater supply reliability. It also reinforces BASF's global leading position in formic acid with production in Europe, North America and Asia," said Soeren Hildebrandt, Senior Vice President of BASF's Chemical Intermediates division.

In line with the company's "We create chemistry" strategy, BASF focuses on sustainable development of its products such as formic acid, which not only has an excellent sustainable profile in use, but also in its production as part of the company's Verbund concept.

The Verbund concept is one of BASF's greatest strengths, linking production and energy requirements in an efficient manner. BASF's Geismar production site incorporates the Verbund concept and allows BASF to maximize the production efficiencies of formic acid while helping to protect the environment and surrounding communities by reducing waste and cutting emissions, and keeping resource consumption and transportation to a minimum.

BASF - The Chemical Company

BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 16,000 employees in North America, and had sales of $20 billion in 2011. For more information about BASF's North American operations, visitwww.basf.us.

BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. We combine economic success, social responsibility and environmental protection. Through science and innovation we enable our customers in almost all industries to meet the current and future needs of society. Our products and system solutions contribute to conserving resources, ensuring healthy food and nutrition and helping to improve the quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF posted sales of about €73.5 billion in 2011 and had more than 111,000 employees as of the end of the year. Further information on BASF is available on the Internet atwww.basf.com.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BASF
08/19 BASF : With a Focus on Jobs, Portman Visits BASF Plant in Greenville
08/18DJBASF : Buys Dutch 3D Printing Business
08/18 BASF : acquires filament producer Innofil3D
08/18 BASF : Portman tours BASF facilities Sen. Rob Portman tours BASF plant
08/17 BASF : Korea refuses to join fair trade drive
08/17 BASF : receives MRLs for HEAT LQ as a pre-harvest herbicide in wheat and barley
08/17 BASF : Smooth steering, safe control
08/15 BASF : Next-Generation Mosquito Nets On the Way
08/15 BASF : is lifting force majeure for dispersions, dispersion powders and hot melt..
08/11 BASF : In-furrow applications growing
More news
News from SeekingAlpha
08/15 Global Oligopolies - Investing In Concentrated Businesses
08/14 MY JOURNEY TOWARDS FINANCIAL INDEPEN : 74 Stock June Portfolio Update; Buying AT..
08/11 GeoPark Discovered Oil In Argentina
08/10 GeoPark, Wintershall strike oil in Argentina
08/10 BASF SE (BASFY) Presents At Jefferies 13th Annual Industrials Conference - Sl..
Financials (€)
Sales 2017 63 000 M
EBIT 2017 7 342 M
Net income 2017 4 899 M
Debt 2017 14 255 M
Yield 2017 3,85%
P/E ratio 2017 15,30
P/E ratio 2018 14,62
EV / Sales 2017 1,41x
EV / Sales 2018 1,34x
Capitalization 74 529 M
Chart BASF
Duration : Period :
BASF Technical Analysis Chart | BAS | DE000BASF111 | 4-Traders
Technical analysis trends BASF
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 90,6 €
Spread / Average Target 11%
EPS Revisions
Managers
NameTitle
Kurt W. Bock Chairman-Executive Board
Jürgen Hambrecht Chairman-Supervisory Board
Hans-Ulrich Engel Chief Financial Officer
Martin Brudermüller Chief Technology Officer
Michael Diekmann Vice Chairman-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
BASF-7.82%87 646
DOW CHEMICAL COMPANY (THE)10.42%77 566
GROUPE BRUXELLES LAMBERT10.55%16 723
EVONIK INDUSTRIES-3.45%15 063
ROYAL DSM11.04%13 452
MITSUBISHI CHEMICAL HOLDINGS CORP.24.19%12 993