MATERIALS: BASF, Alpek To Switch Businesses Of Joint Venture
BASF will expand polyurethanes business while Alpek will expand EPS business.
BASF Corp., Florham Park, N.J., and Mexico’s petrochemical company Alpek SAB have agreed to change up the makeup of their Mexico-based 50-50 joint venture Polioles SA. Expected to be finalized in early 2015, the deal will result in Alpek’s complete acquisition of Polioles’ EPS business as well as the purchase of BASF’s EPS business operations in North and South America.
The transaction excludes BASF’s Neopor gray EPS business. BASF will continue to sell Neopor to customers in the U.S., Canada, and South America while Alpek will sell Neopor for BASF through a distribution agreement. The total capacity of EPS to be acquired by Alpek comes to around 507-million/lbs, including its Polioles 363-million lb plant.
BASF will acquire Polioles polyurethane business as well as all marketing and selling rights for isocyanates and polyols. (800) 431-2360 • basf.com
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