BASF to purchase Sunoco's plasticizers
24 Apr 2003
BASF has signed a letter of intent to purchase Sunoco's plasticizer operations.
The acquisition includes the Sunoco Pasadena, TX site, including the land, phthalic anhydride, and oxo manufacturing plants, plus the plasticizer esters, 2-ethylhexanol, and phthalic anhydride businesses.
Although Sunoco's Neville Island site is not part of the transaction, it will produce plasticizers for BASF.
The Sunoco acquisition will be combined with BASF's current plasticizer business in the US following required regulatory approval and closing. Subject to these, BASF hopes to have the acquisition completed by the end of the third quarter of 2003.
With completion of the purchase, BASF will have North American plasticizer manufacturing sites in Cornwall, Ontario, Canada, and Pasadena, TX as well as manufacturing and marketing agreements with Sterling Chemical in Texas City, TX and Sunoco in Neville Island, PA.
Financial details of the transaction were not disclosed.
