BASF postpones decision on natural gas-based propylene investment in Freeport, Texas
June 06 2016 - 9:00AM
Considering the current volatility of raw material prices and the
prevailing economic environment, BASF has postponed its final
investment decision regarding the construction of a
methane-to-propylene complex at its Freeport, Texas, site.
“On-purpose production of propylene based on favorable U.S.
shale gas is interesting for BASF. We will regularly review the
development of raw material prices and the relevant market
conditions to determine the right point in time to commence such a
major investment,” said Wayne T. Smith, member of the Board of
Executive Directors of BASF SE.
About BASF
BASF Corporation, headquartered in Florham Park, New Jersey, is
the North American affiliate of BASF SE, Ludwigshafen, Germany.
BASF has nearly 17,500 employees in North America, and had sales of
$17.4 billion in 2015. For more information about BASF’s North
American operations, visit www.basf.us.
At BASF, we create chemistry for a sustainable future. We
combine economic success with environmental protection and social
responsibility. The approximately 112,000 employees in the BASF
Group work on contributing to the success of our customers in
nearly all sectors and almost every country in the world. Our
portfolio is organized into five segments: Chemicals, Performance
Products, Functional Materials & Solutions, Agricultural
Solutions and Oil & Gas. BASF generated sales of more than €70
billion in 2015. BASF shares are traded on the stock exchanges in
Frankfurt (BAS), London (BFA) and Zurich (AN). Further information
at www.basf.com.
For more information contact:
Donna Jakubowski
Phone: +1 973-245-6260
donna.jakubowski@basf.com
Michael Wadle
Phone: +49 621 60-41685
michael.wadle@basf.com
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