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BASF AG XE:BAS XETRA Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 47.86 47.86 47.88 0.00 00:00:00

BASF Confirms Final Phase of MDI Expansion at Louisiana Site

19/07/2022 2:52pm

Dow Jones News


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   By Ed Frankl 
 

BASF SE on Tuesday confirmed that it would move forward with the final phase of expanding its production site in Louisiana, with a total investment of $780 million between 2022 and 2025.

The German chemical company said the expansion project for the production of methylene diphenyl diisocyanate, a raw material for polymers better known as MDI, at its Verbund site in Geismar, La., would increase production to 600,000 metric tons by 2025.

The expansion project began in 2018 with a staggered approach consisiting of three investment phases, BASF added.

"This investment underlines our commitment to North America and strengthens BASF's supply reliability and the competitiveness of our customers' value chains in the region," said Michael Heinz, chief executive of BASF's North American operations.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

July 19, 2022 09:37 ET (13:37 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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