EPS Plant Shutdown BASF Plans Plant Shutdowns
In light of high overcapacities and low margins, BASF is focusing its global Styropor (styrofoam, EPS: expandable polystyrene) activities on strategic markets and core products with better profitability. With this regards, company has decided to will shut down the Styropor plants in Thane, India and Pasir Gudang, Malaysia.
Thane/India – The combined annual EPS production capacity of the two plants is more than 100,000 metric tons. BASF will work with employees affected by the shutdowns to find the right transition plan.
Company to Shut Down EPS Plants in Asia
“The closure of BASF’s Styropor plants in Malaysia and India has become inevitable due to the high EPS overcapacities in Asia Pacific that have developed in recent years. These overcapacities have led to extremely low margins which make our operations in India and Malaysia uneconomic,” explained Giorgio Greening, Head of the Global Business Unit Foams.