BASF to exit dimer and polyamide resin business.
BASF has 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.
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|Title Annotation:||Industry News|
|Date:||Sep 1, 2015|
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