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BASF Raises Prices for Formic Acid in Europe - BASF is raising prices for Formic Acid 85% by 40 EUR/mt (or 45 USD/mt) in Europe effective immediately or as existing contracts permit. Prices for Formic Acid 94% will be increased accordingly on a pro rata basis - BASF.com
BASF Raises Prices for Formic Acid in Europe

 

PRZOOM - /newswire/ - Ludwigshafen, Germany, 2015/03/02 - BASF is raising prices for Formic Acid 85% by 40 EUR/mt (or 45 USD/mt) in Europe effective immediately or as existing contracts permit. Prices for Formic Acid 94% will be increased accordingly on a pro rata basis - BASF.com. DE000BASF111

   
 
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Formic acid is a high-quality intermediate used in a broad range of applications. In animal nutrition, for example, it is used as a feed preservative. Potassium formate, a salt of formic acid, is an environmentally sound and highly efficient de-icing agent used on roads and airport runways. Both formic acid and potassium formate are also used in the oilfield industry as part of the drilling and completion process, as well as in shale gas exploration. Moreover, formic acid is a powerful descaling agent and disinfectant.

BASF is the world’s leading producer of formic acid, with production plants at its integrated Verbund sites in Ludwigshafen, Germany, and Nanjing, China. Another formic acid plant at BASF’s site in Geismar, Louisiana, is currently under construction.

About BASF

At BASF (basf.com), 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. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).

 
 
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Agency / Source: BASF

 
 

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BASF Raises Prices for Formic Acid in Europe

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BASF | Formic Acid
Contact: Klaus-Peter Rieser - BASF.com 
+49 621 60-95138 klaus-peter.rieser[.]basf.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any BASF securities in any jurisdiction including any other companies listed or named in this release.

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