BASF Quarterly Statement
Q3 2022
We create chemistry
BASF offers products for almost all sectors and applications – from important basic chemicals and a wide range of intermediates to highly specific customer solutions for the automotive, plastics, cosmetics and pharmaceutical industries or agriculture, for example. BASF manufactures around 8,500 products at its Ludwigshafen site in Germany alone. One of these is Xemium®. The high-performance active ingredient helps farmers around the world to control fungal diseases in various crops, contributing to food security. The photos show Mesut Aslan, an operator at the Xemium® plant, on an inspection tour of the facility.
Martin Brudermüller
Chairman of the Board of Executive Directors
“Despite the continued high raw materials and energy prices, BASF achieved solid earnings in the third quarter.”
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BASF confirms final phase of MDI expansion at Geismar Verbund site
BASF is moving forward with the final phase of the expansion project for the methylene diphenyl diisocyanate (MDI) plant at its Verbund site in Geismar, Louisiana. With this third step of its multiphase capacity expansion, BASF will increase production capacity to 600,000 metric tons per year by the middle of the decade and support the ongoing growth of its North American MDI customers. The investment in the final expansion phase from 2022 to 2025 amounts to $780 million.
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BASF gives final approval for the construction of the Zhanjiang Verbund site
BASF SE gave final approval for the construction of the planned Verbund site in Zhanjiang in the southern Chinese province of Guangdong. The project is on schedule. The focus will now be on building the core of the Verbund, which includes a steam cracker and several downstream plants for the production of petrochemicals and intermediates, among others. BASF will invest up to €10 billion by 2030 to build the new Verbund site.
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BASF and TODA to further expand capacity for cathode active materials
BASF and TODA KOGYO CORP. (TODA) announced that they will further expand the production capacity of BASF TODA Battery Materials LLC (BTBM) at the Onoda site in Japan. BTBM is a BASF majority-owned joint venture with TODA formed in 2015 (BASF 66%; TODA 34%). Construction for the new capacity at the Onoda site will start in Q4 2022 and commercial production is planned for the second half of 2024. BTBM’s annual capacity for high nickel cathode active materials (CAM) will achieve up to 60,000 tons by 2025.
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BASF expands world-scale vitamin A formulation plant in Ludwigshafen
BASF is strengthening its market position in vitamin A by expanding its world-scale formulation capacities at its Verbund site in Ludwigshafen (picture). The state-of-the art facility, which is fully integrated into vitamin production at the site, will support and further expand the production of high-quality vitamin A powder products for the animal nutrition industry. Start-up is planned for mid-2023 and will stepwise increase BASF’s vitamin A powder formulation capacities in line with the increased vitamin A acetate production capacity.
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BASF transforms market towards certified, sustainably sourced coconut oil
With the certification of BASF’s production site in Cassina Rizzardi, Italy, BASF is the first chemical company offering certified sustainable personal care ingredients based on coconut oil. The company was certified according to the Rainforest Alliance Mass Balance Coconut certification scheme. Mass balance (MB) is a supply chain model that fosters the physical flow of certified raw materials within the supply chains, while the farmers benefit from selling Rainforest Alliance Certified coconuts and copra.
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BASF expands renewable energy supply to U.S. sites
BASF is committed to renewable energy solutions to power its sites across the United States and has entered into virtual power purchase agreements (VPPAs) for wind and solar power totaling 250 megawatts (MW). They are designed to offset the carbon-intensive grid-supplied electricity being used at more than 20 of BASF’s manufacturing sites in several states across the country, from Texas to Michigan.
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BASF again achieves its Palm Commitment
BASF again reached its goal of sourcing all palm (kernel) oils certified from sustainable sources by the Roundtable on Sustainable Palm Oil (RSPO) in 2021. Based on a voluntary commitment, the company purchased 242,946 metric tons of certified palm kernel oil in 2021, representing 100% of the total procurement volume. BASF also made further progress in developing transparent supply chains: Almost 96 percent of the company’s global oil palm footprint – a total of 441,107 metric tons – can be traced back to the oil mill.
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BASF, SABIC and Linde to start eFurnace project
BASF, SABIC and Linde have started construction of the world’s first demonstration plant for large-scale electrically heated steam cracker furnaces. By using electricity from renewable sources instead of natural gas, the new technology has the potential to reduce CO2 emissions of one of the most energy-intensive production processes in the chemical industry by at least 90% compared to technologies commonly used today. To support the development of the novel furnace technology, the project has been granted €14.8 million by the German Federal Ministry for Economic Affairs and Climate Action under its “Decarbonization in Industry” funding program.
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BASF closes divestiture of its kaolin minerals business
On September 30, 2022, BASF closed the divestiture of its kaolin minerals business to KaMin, a global performance minerals company headquartered in Macon, Georgia, United States, following the fulfillment of clearance conditions. The kaolin minerals business has approximately 440 employees, including personnel in North America, Europe and Asia. It generated sales of around €171 million in 2021.
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