BASF SE will spend more than 200 million euros ($217 million) to increase its global plastic additives production capacity in the next five years.
The investments will take place at BASF sites in the U.S., Europe and the Asia Pacific region and will increase capacity for antioxidants and light stabilizers, officials with the Ludwigshafen, Germany-based firm said in a Nov. 8 news release.
About half of that investment will come in Asia, it added. BASF's plastic additives improve product properties such as scratch resistance or light stability, and optimize plastics manufacturing processes, officials said.
BASF also will invest in digital processes and technology to support its customers as a reliable supplier in all regions, Performance Chemicals president Christian Fischer added in the release.
At the recent K 2016 show in Germany, BASF introduced two new grades of its Tinuvin-brand light stabilizers. Officials said that one of the new grades provides significantly improved light stability and higher thermal stability, especially in interior car applications. The other new grade provides formulators with very good durability and excellent secondary properties such as color stability, they added.
Both of these new products are undergoing sampling at key BASF customers.
BASF ranks as one of the world's largest makers of chemicals and specialty plastics. The firm employs 112,000 worldwide and posted sales of more than 70 billion euros ($76 billion) in 2015. BASF Corp. — the firm's North American unit — is based in Florham Park, N.J.