BASF is closing a unit making specialty polyamide resins and epoxy-related products in Kankakee. Ill.
The move is expected to eliminate 50 jobs, officials with BASF said in a recent news release. The closure is the result of business declines seen in the last 15 years, and is driven by excess market capacity and a drop in key markets including printing, they added.
Products that will be discontinued in Kankakee include Versamid-brand specialty polyamide resins and epoxy curing agents, Versamine-brand modified amine epoxy curing agents and Empol-brand dimer acids. BASF will continue to make products for its nutrition and health divisions in Kankakee. BASF acquired the 67-year-old Kankakee site when it purchased Cognis Group in 2010.
“This decision has been difficult because it impacts employees in Kankakee and our dimer and [nylon] customers,” dispersions and pigments senior vice president Gerry Podesta said in the release. “We will take steps to ensure a smooth transition for customers and provide support to employees during this time.”
BASF SE is a major plastics and chemicals firm based in Ludwigshafen, Germany, with North American headquarters in Florham Park, N.J. In 2014, BASF posted sales of almost $84 billion, including sales of almost $21 billion in North America.