No JV between Basf and Astra Polymers

On July 1 Basf announced the decision to discontinue plans for a joint venture with the Saudi company Astra Polymer to produce customer specific antioxidant blends in the Middle East region. The joint venture plans were based on an agreement between Astra Polymer and the Plastic Additives business of former Ciba, which has been acquired by Basf in 2009. The termination of the joint venture plans will have no impact on the existing tolling agreement between the two companies to produce customer specific antioxidant blends for the region.