BASF SE, the world’s largest chemical maker, plans to spin off its styrene division by the end of this year, chemical news supplier ICIS reported, citing unidentified people close to the company.
The spin-off will include styrene and polystyrene operations outside of BASF’s Ludwigshafen site, as well as acrylonitrile butadiene styrene, styrene butadiene copolymer as well as styrenic copolymers, said ICIS, citing a person familiar with the plans who attended the annual meeting of the European Petrochemical Association in Budapest. No clear partner has been chosen, it said on its website.
Prior to the move, BASF registered the name Styrolution in June, ICIS reported. Styrene operations in Ludwigshafen will remain within BASF’s so-called Verbund, an inter-connected chemical park that maximises the use of by-products, the trade publication said.