BASF acquires plasticizer business
BASF has purchased the phthalate plasticizer business of Sunoco. Total price of the the purchase was $91 million. U...
BASF has purchased the phthalate plasticizer business of Sunoco. Total price of the the purchase was $91 million. Under the terms of the agreement BASF has acquired Sunoco’s Pasadena, TX site, including its manufacturing plants, as well as the phthalate esters, 2ethylexanol and phthalic anhydride businesses. The unit had sales of approximately $150 million in 2002. Sunoco’s Neville Island, PA site is not part of the purchase and will continue to manufacture plasticizers for BASF under a tolling agreement.
BASF currently has a plasticizer manufacturing site in Cornwall, ON and a manufacturing and marketing agreement with Sterling Chemical in Texas City, TX.
"With the completion of this acquisition we are positioned to deliver greater customer value by providing a broader line of linear and branched plasticizer products and new supply chain efficiencies," said Cenan Ozmeral, group vice president, petrochemicals, for BASF in North America. "This action also demonstrates that BASF is strongly committed to plasticizer customers in North America."