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BASF Postpones Decision on Natural Gas-based Propylene Investment in Freeport, Texas - BASF has postponed its final investment decision regarding the construction of a methane-to-propylene complex at its Freeport, Texas, site - BASF.com
BASF Postpones Decision on Natural Gas-based Propylene Investment in Freeport, Texas

 

PRZOOM - /newswire/ - Ludwigshafen, Germany, 2016/06/06 - BASF has postponed its final investment decision regarding the construction of a methane-to-propylene complex at its Freeport, Texas, site - BASF.com. DE000BASF111

   
 
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Considering the current volatility of raw material prices and the prevailing economic environment, BASF has postponed its final investment decision regarding the construction of a methane-to-propylene complex at its Freeport, Texas, site.

“On-purpose production of propylene based on favorable U.S. shale gas is interesting for BASF. We will regularly review the development of raw material prices and the relevant market conditions to determine the right point in time to commence such a major investment,” said Wayne T. Smith, member of the Board of Executive Directors of BASF SE.

About BASF

At BASF (basf.com), we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 112,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of more than €70 billion in 2015. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).

 
 
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BASF Postpones Decision on Natural Gas-based Propylene Investment in Freeport, Texas

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BASF |
Contact: Michael Wadle - BASF.com 
+49 621 60-41685 michael.wadle[.]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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