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BASF SE (BAS)

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BASF SE : Governor Jindal and BASF Dedicate Methylamines Plant in Geismar

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10/25/2011 | 08:00pm CET

Substantial investment creates 11 new jobs at BASF's largest site in North America

GEISMAR

, LA

- October 25, 2011 - Today, Governor Bobby Jindal and Beate Ehle, President Market and Business Development, BASF North America, dedicated a new methylamines plant at BASF's chemical complex in Ascension Parish. The new unit is one of 22 plants on the 2,600-acre site.

The expansion, begun in 2009 and completed in May 2011, creates 11 new permanent jobs. The methylamines plant, the first for BASF in North America, is also the first of its kind in Louisiana and gives BASF an immediate source of key chemical building blocks based on methanol and ammonia feed stocks.

"BASF Geismar is one of the greatest economic engines in our state and a true example of innovation at work in the chemical industry," said Governor Jindal. "Because of our strong business climate and skilled workforce, BASF chose Louisiana for the site of its first-ever methylamines plant in North America. This project builds on our commitment to retain and grow Louisiana businesses and jobs while competing with the rest of the world for billions of dollars in business investment."

By creating connections to local terminals, BASF can now efficiently ship methanol and ammonia via pipeline to its new methylamines facility instead of having to transport the products via truck or rail. The new facility produces chemical intermediates for further processing into end applications ranging from petrochemical products, solvents, plastics, textiles, personal care products and pharmaceuticals to computer circuits and chips.

BASF has a global network of methylamines plants including those at its Verbund sites in Ludwigshafen, Germany, and Nanjing, China.

"BASF is extremely pleased to now be manufacturing methylamines in North America," said Beate Ehle, President, Market and Business Development, BASF North America. "This further strengthens our position as a leading global supplier of standard and specialty amines. The new plant demonstrates our commitment to sustainable development and further growth in North America, and it emphasizes our commitment to Geismar as one of the Verbund sites of BASF. "

To secure the project, Louisiana Economic Development (LED) helped BASF qualify for financing through Gulf Opportunity Zone bonds used to spur post-hurricane economic recovery in the state. BASF also is expected to utilize the state's Restoration Tax Abatement and Enterprise Zone incentive programs.

"BASF's investment joins a growing roster of major petrochemical investments in Louisiana that are being driven by our abundant supply of natural gas, very affordable prices for that supply, and a steadily improving business climate that ranks among the very best in the U.S.," LED Secretary Stephen Moret said. "Our investment in helping Louisiana's existing companies to grow continues to pay dividends as businesses recognize the value proposition that Louisiana represents."

BASF's Geismar site employs approximately 1,400 of which 780 are BASF employees and about 620 are contractors.

About BASF Corporation

BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has approximately 16,400 employees in North America, and had sales of $17.7 billion in 2010. For more information about BASF's North American operations, visit

www.basf.us

.

BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products, and agricultural products to oil and gas. As a reliable partner, BASF creates chemistry to help its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges, such as climate protection, energy efficiency, nutrition and mobility.

BASF posted sales of more than €63.9 billion in 2010 and had approximately 109

,000

employees as of the end of the year. Further information on BASF is available on the Internet at

www.basf.com

or in the Social Media Newsroom at

newsroom.basf.com

.
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Average target price 83,7 €
Spread / Average Target -6,9%
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