CHARLOTTE, NC, July 30, 2015 (Press Release) -
- BASF will close dimer and resin unit at Kankakee, Illinois production site
- The Care Chemicals and Nutrition and Health Divisions will continue to operate the Kankakee site
BASF today announced plans to exit the dimer and polyamide resin business due to the North American market decline over the past 15 years driven by excess market capacity and a decline in key markets including printing. The decision will result in the closure of the dimer and resin production unit at BASF's Kankakee, Illinois, location.
BASF will work with customers directly on exit stock materials and support the transition to new suppliers through the end of 2015. BASF is also evaluating the sale of intellectual property associated with the dimer and polyamide resin business. Trade names of products manufactured at Kankakee include Empol®, Genamid®, Versadyme®, Versamid®, Versamine® and Versacure®.
"This decision has been difficult because it impacts employees in Kankakee and our dimer and polyamide customers," said Gerry Podesta, Senior Vice President for Dispersions and Pigments in North America. "We will take steps to ensure a smooth transition for customers and provide support to employees during this time."
BASF will continue to operate the Kankakee site which supplies customers with products for the Nutrition and Health and Care Chemicals Divisions of the company.
Approximately 50 positions - both manufacturing and commercial roles - will be affected. BASF currently has more than 200 employees and contractors working in Kankakee. The site joined BASF Corporation with the acquisition of Cognis in 2010 and has been manufacturing products since 1948.
Empol, Genamid, Versadyme, Versamid, Versamine and Versacure are registered trademarks of BASF SE.
About BASF's Dispersions & Pigments Division in North America
BASF's Dispersions & Pigments Division in North America offers a comprehensive portfolio of resins, binders, latex, pigments and effect pigments, colorants, and systems to meet specific application needs for the coatings, construction, printing and packaging, plastics and paper markets. Our innovative products also help manufacturers in the adhesives, nonwovens and fiber bonding industries meet functional and performance demands. Key product areas of formulation additives, rheology modifiers, light stabilizers, photoinitiators, and antioxidants significantly enhance the BASF product portfolio for these markets.
BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 17,000 employees in North America, and had sales of $20.6 billion in 2014.
At BASF, we create chemistry - and have been doing so for 150 years. Our portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. As the world's leading chemical company, we combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of over €74 billion in 2014 and around 113,000 employees as of the end of the year.