Thursday, Jul 01, 2010
FRANKFURT (Dow Jones)--German chemicals company BASF SE (BAS.XE) said Thursday it has discontinued plans for a joint venture with Astra Polymer Compounding Co. Ltd. of Saudi Arabia to produce customer specific antioxidant blends for the Middle East.
MAIN FACTS:
-The joint venture plans were based on an agreement between Astra Polymer and the Plastic Additives business of the former Ciba AG which was acquired by BASF in 2009.
-The termination of the joint venture plans will have no impact on the existing tolling agreement between the companies to produce customer specific antioxidant blends for the region.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
(END) Dow Jones Newswires
01-07-10 1316GMT
