LUDWIGSHAFEN, GERMANY (July 20, 5 p.m. ET) — Plastics and chemicals giant BASF will build a plant making antioxidants — commonly used as plastic additives — in the Middle Eastern nation of Bahrain.
Ludwigshafen, Germany-based BASF will begin construction of the 35 million pound-per-year capacity plant in September. The plant is expected to be in operation by the end of 2012.
BASF officials described the move as "a major investment...in the plastic additives business" following the firm's acquisition of Ciba in 2009.
BASF also makes antioxidants in the region through a manufacturing agreement with Astra Polymer in Saudi Arabia.