The world’s largest chemical company is expanding in the Houston area.
Germany-based BASF said it completed two plastic and chemical expansions just outside of Houston at its Pasadena complex.
The capacity expansions contribute to the production of plasticizers used to soften and increase the flexibility of rigid materials like polyvinyl chloride, called PVC.
BASF said it increased its production of dioctyl terephthalate, or DOTP, which is a general purpose plasticizer, by 60,000 metric tons a year. Likewise, BASF upped its production of 2-ethylhexanol, which is a DOTP raw material, by 100,000 metric tons annually.
The future CEO of thyssenkrupp Uhde, Nadja Håkansson, has held various management positions at Siemens and Siemens Energy and looks back on over 18 years of national and international experience in the areas of supply chain management, operations, sales and corporate management.
Neste and South Korean company Lotte Chemical have partnered on a project to elevate the sustainability profile of chemicals and plastics. The partnership’s ambition is to replace fossil resources with renewable raw materials that offer a lower carbon footprint.
At least the confidence in the chemical sector has been seeing an upward trend and the trade balance is recovering as destocking seems to be coming to an end. Citing projections from the European Central Bank, CEFIC states that the level of inflation is expected to fall from 5.4% in 2023 to 2.3% in 2024.
