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BASF: cuts production at 2 plants due to gas price hike

(CercleFinance.com) - BASF announced on Monday that it has decided to cut production at two European ammonia plants because of soaring gas prices.

The German chemical giant said that rising energy costs have made it extremely difficult to operate an ammonia plant in the region.

As a result, the group has reduced production at its Antwerp (Belgium) and Ludwigshafen (Germany) production sites.

BASF says it will continue to monitor the development of gas prices and adjust its ammonia production accordingly.

BASF also announced today that it had signed a memorandum of understanding with Japan's Sanyo Chemical for collaboration in the field of aqueous polyurethane dispersions (PUDs), compounds that enable the development of materials with environmental benefits.

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