BASF Partner for Production and Sale of Polyurethane and Coatings Precursor

BASF and F.A.R. Fabbrica Adesivi Resine S.p.a (F.A.R.), Cologno Monzese, Italy, have agreed to cooperate for the production, marketing and sale of the polyalcohol trimethylolpropane (TMP). This cooperation is expected to take effect in July 2009. Under the agreement F.A.R. will take over production of TMP for both partners at its Vercelli site near Milan. On the other hand, BASF will be exclusively responsible for the marketing and sales of TMP.

BASF will mothball its TMP plant in Ludwigshafen. This move will affect eight BASF employees, who will assume other jobs at the Ludwigshafen site. The cooperation is subject to the approval of the respective antitrust authorities.

"Polyalcohols are one of our core businesses. By cooperating with F.A.R we further strengthen our TMP business. In the current difficult market situation we are temporarily focusing on one manufacturing site only," said Dr. Tom Witzel, head of the Regional Business Unit Diols and Polyalcohols of BASF's Intermediates division. "We have already optimized the Vercelli TMP production together with F.A.R. The quality of the TMP to be produced there will comply with both companies' standards and meet our customers' high expectations."

"We look forward to cooperating with a strong partner like BASF. We contribute our long-standing manufacturing expertise to this collaboration, with BASF adding its global business competencies. This is a win-win situation for our customers as well as the two companies involved," said Dr. Antonio Moro, Chief Executive Officer, F.A.R. Spa.

TMP is used in the production of polyurethanes, synthetic lubricants and coatings. BASF also manufactures numerous other polyalcohols, for example neopentylglycol (NPG), hexanediol (HDO) and hydroxypivalic acid neopentylglycolester (HPN). Apart from the above applications, these intermediates are also valuable in the production of adhesives and polyester resins.

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