30th March 2020

BASF TO EXIT DECLINING BUSINESS

BASF Corp. plans to exit the dimer and polyamide resin business due to the North American market decline over the past 15 years. The decline, the company says, is driven by excess market capacity and a reduction in key markets such as printing. BASF Corp. (Florham Park, NJ), is the North American affiliate of BASF SE, Ludwigshafen, Germany.

The decision will result in the closure of the dimer and resin production unit at BASF’s Kankakee, Il, location. BASF will work with customers to support the transition to new suppliers through the end of 2015.

The company 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.”

A total of 50 positions will be affected. BASF will continue to operate the Kankakee site, which supplies products for the Nutrition and Health Care Chemicals Divisions of the company. The site joined BASF Corp. with the acquisition of Cognis in 2010 and has been manufacturing products since 1948. 

www.basf.com