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E-shots Web-exclusive: BASF to acquire LATI's North American engineering plastics business; lifts force majeure

January 1, 2006

1 Min Read
E-shots Web-exclusive: BASF to acquire LATI's North American engineering plastics business; lifts force majeure

BASF continues to expand its engineering plastics (EP) structure, saying it will acquire the North American EP business of LATI USA, an operation of LATI Industria Termopplastici SpA (Vedano Olona, Italy). Financial terms of the sale were not given, but LATI’s annual sales volume in North America was reported in the low double-digit range of millions of dollars. The deal involves customer lists for nylon 6 and 6/6, PBT, and POM, but BASF says there is no associated transfer of production sites or personnel. Jay N. Baker, who heads BASF’s North American EP business, says the company is looking forward to serving LATI’s former customers. In November 2005 BASF acquired Geuna-Miramid (Germany), and in 2003 it purchased Ticona’s PA 6/6 business and Honeywell’s global EP business.

In December, BASF lifted the force majeure that was declared in the wake of Hurricane Rita on Sept. 30 for all contracts and related agreements pertaining to general purpose polystyrene (GPPS), Terluran acrylonitrile-butadiene-styrene (ABS), Luran S acrylonitrile-styrene-acrylate (ASA), Styrolux styrene-butadiene copolymers (SBC), and Styroclear styrene butadiene copolymers (SBC) products manufactured at the Altamira site in Mexico.

Herman Savenije, business director of Styrenic Products, explains, “We do not anticipate any further delay of deliveries and expect that we will be able to fulfill all orders in the near term.”

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