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BASF SE (BASFY) reports developments as a global chemical company whose American depositary receipts trade in the United States. Updates center on segment activity across Chemicals, Materials, Industrial Solutions, Nutrition & Care, Surface Technologies and Agricultural Solutions.
Recurring news includes specialty-ingredient distribution for polyurethanes, coatings, adhesives and polymer systems; automotive coatings color trends; ChemCycling and Ccycled products tied to plastic-waste feedstock; renewable-power sourcing for U.S. operations; manufacturing workforce recognition; and Chemovator investments that extend BASF's chemical-industry innovation network.
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BASF has initiated the final phase of its methylene diphenyl diisocyanate (MDI) expansion project at its Geismar, Louisiana site. This $780 million investment will boost production capacity to about 600,000 metric tons per year by mid-decade, totaling around $1 billion across all phases. This project marks BASF's largest wholly owned investment in North America. The expansion aims to support North American customers in sectors like transportation and automotive, showcasing advanced safety and digitalization technologies.
BASF Senior Vice President Lori Goucher was inducted into the Women in Manufacturing (WiM) Hall of Fame, recognizing her contributions to advancing women in the manufacturing sector. Goucher played a crucial role as a mentor and leader within BASF, addressing gender representation in manufacturing. WiM honors women like Goucher for their significant career contributions. BASF aims for 30% of leadership roles to be held by women by 2030, supporting such initiatives through memberships and professional development opportunities.
BASF has entered a 12-year Power Purchase Agreement to secure 48 MW of solar energy from X-ELIO’s Liberty Solar Photovoltaic and Energy Storage Plant in Houston. This agreement will enable BASF's Verbund site in Freeport, Texas, to obtain 100% of its purchased power from renewable sources, effectively reducing CO2 emissions by over 82,000 metric tons annually. The project will also create around 125 construction jobs and is a step toward BASF's goal of net-zero emissions by 2050.
BASF announced increased production of N-(2-Hydroxyethyl)-2-Pyrrolidone (HEP) and N-Octyl-2-Pyrrolidone (NOP) at its Geismar, Louisiana site, expected to commence in the second half of 2022. This initiative responds to the rising demand from the ink, automotive, and agricultural sectors. A double-digit million dollar investment supports this production boost. HEP serves as a vital (co)-solvent in various formulations, while NOP is utilized in crop protection and automotive applications, enhancing BASF's role as a global supplier in North America.