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BASF has agreed to sell its Brazilian polystyrene business to Brazil’s Companhia Brasileira de Estireno (CBE) for an undisclosed sum. With the transaction, CBE will get a 190,000-metric-ton-per-year polystyrene plant in São José dos Campos, São Paulo. CBE has 120,000 metric tons of styrene capacity in Cubitão, São Paulo, and a 160,000-metric-ton styrene unit in Camaçari, Bahia, which it purchased from Dow Chemical in 2008. BASF recently closed a polystyrene plant in Ludwigshafen, Germany, and is selling a South Korean styrene plant to South Korean refiner SK Energy. BASF has wanted to exit the styrenics business since 2007.
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