STOCK TITAN

BASF to produce more specialty pyrrolidones in North America

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

BASF announced increased production of N-(2-Hydroxyethyl)-2-Pyrrolidone (HEP) and N-Octyl-2-Pyrrolidone (NOP) at its Geismar, Louisiana site, expected to commence in the second half of 2022. This initiative responds to the rising demand from the ink, automotive, and agricultural sectors. A double-digit million dollar investment supports this production boost. HEP serves as a vital (co)-solvent in various formulations, while NOP is utilized in crop protection and automotive applications, enhancing BASF's role as a global supplier in North America.

Positive
  • Increased production of HEP and NOP aligns with growing customer demand in multiple sectors.
  • Double-digit million dollar investment in Geismar strengthens BASF's operational capabilities.
  • BASF positions itself as a key global supplier for HEP and NOP.
Negative
  • None.
  • Versatile chemical intermediates N-(2-Hydroxyethyl)-2-Pyrrolidone (HEP) and N-Octyl-2-Pyrrolidone (NOP) available in the second half of 2022 in Geismar

  • Growing demand of digital inks, coatings, automotive, agricultural products

FLORHAM PARK, N.J. and GEISMAR, La., Aug. 04, 2022 (GLOBE NEWSWIRE) -- BASF has announced it will produce more N-(2-Hydroxyethyl)-2-Pyrrolidone (HEP) and N-Octyl-2-Pyrrolidone (NOP) at its Geismar, Louisiana, Verbund site. The production is anticipated to be on-stream in the second half of 2022 and will ensure a global supply of HEP and NOP.

"Our customers want to continue to grow in the ink, automotive and agricultural markets and will need increasing quantities for the foreseeable future,” said Erika Peterman, Senior Vice President, Chemical Intermediates, North America. “We can accompany these growth plans thanks to our double-digit-million-dollar investment by BASF in Geismar.”

“It became clear that our facility in Geismar would make a perfect fit for increased production of HEP and NOP in the region,” explained Stefanie Demming, Vice President, Operations & Technology, Chemical Intermediates, North America. “We are pleased to take on a global supply role in North America.”

N-(2-Hydroxyethyl)-2-Pyrrolidone (HEP) is a versatile chemical intermediate. It proves essential as (co)-solvent for the production of crop protection agents, electronic, coating and inkjet formulations.

N-Octyl-2-Pyrrolidone (NOP) is a versatile chemical intermediate used particularly as a solvent and low-foaming surfactant. Among other things, NOP is used as a solvent in the production of crop protection active ingredients, it is also used as a wetting agent in dishwashing detergents as well as various automotive applications.

About BASF

BASF Corporation, headquartered in Florham Park, New Jersey, is the US affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 16,700 employees in North America and had sales of $25.9 billion in 2021. For more information about BASF’s North American operations, visit www.basf.com/us.

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. Around 111,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €78.6 billion in 2021. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com.

Media Relations contact
Alberto Hernandez
Phone: 973-245-5228
alberto.c.hernandez@basf.com


FAQ

What is BASF's new production plan for HEP and NOP in 2022?

BASF plans to increase production of N-(2-Hydroxyethyl)-2-Pyrrolidone (HEP) and N-Octyl-2-Pyrrolidone (NOP) at its Geismar site, launching in the second half of 2022.

Why is BASF increasing its production of HEP and NOP?

The increase is in response to growing demand from the ink, automotive, and agricultural markets.

What is the significance of HEP and NOP for BASF?

HEP and NOP are versatile chemical intermediates essential for various applications, including crop protection and automotive products.

How much is BASF investing in the Geismar facility for the production of HEP and NOP?

BASF is making a double-digit million dollar investment to boost production capabilities at the Geismar facility.

When will BASF's new production of HEP and NOP start?

The production at BASF's Geismar facility is anticipated to begin in the second half of 2022.

BASF SE S/ADR

OTC:BASFY

BASFY Rankings

BASFY Latest News

BASFY Stock Data

41.34B
3.67B
0.01%
Chemicals
Basic Materials
Link
United States of America
Ludwigshafen am Rhein