DUBAI, UAE, July 5, 2012 /PRNewswire/ --
BASF Plastic Additives Middle East and Astra Polymers have signed a new contract that will see the two companies continue to work together to produce Customer SpecificBlends (CSB) in the Kingdom of Saudi Arabia (KSA). This cooperative agreement combines the expertise of the two companies, bringing two complementary form-giving technologies for additive blends to customers in the region. This will position BASF to maintain its leadership position in the plastic additives market in the Middle East.
Astra Polymers has for several years operated BASF-owned production lines at its Dammam premises, producing CSB. Astra Polymers' breadth of experience in the field of Masterbatch and Compounding add considerable value, enhancing BASF's production capacities in the Middle East. BASF Plastic Additives Middle East markets and sells the CSB.
Says Frank Fasdernes, Director Business Management Plastic Additives for Africa, Eastern Europe, Western Asia: "Astra Polymers has proven its capabilities as a partner to BASF in the production of CSB. Its strong commitment to quality and growth supports the positioning of BASF as a market leader for CSB in the Middle East. With the launch of our production facility in Bahrain in quarter 4 of 2012, we will continue to cooperate with Astra Polymers as our partner in KSA to produce CSB."
Adds Bandar N. Al-Saqer, CEO Astra Polymers: "The success of both companies in the growing plastics industry in the Middle East is proof that our cooperative agreement is well founded, adding value to both our companies and the industry. Astra Polymers is highly committed to the development of the downstream market. As market leaders, our combined efforts make the promise of flexibility, quality and innovation tangible to our customers."
At a ceremony in Dammam earlier this month Astra Polymers, BASF Plastic Additives Middle East and BASF Switzerland AG signed a long term contract to extend their existing production cooperation agreement in the field of plastic additives.
"We are extremely happy to continue CSB production in KSA with a strong partner like Astra Polymers," says John Frijns, Senior Vice President, Plastic Additives Europe/EAWA. "BASF's combined global production capacity for antioxidants and CSB, paired with Astra Polymers plant in KSA, and our new facility in Bahrain, shows our on-going commitment to this growing market.
About BASF Plastic Additives
BASF is a leading manufacturer, supplier and innovation partner of additives and pigments for the plastics industry such as ultraviolet (UV) light stabilizers, antioxidants and process stabilizers, organic and inorganic pigments, effect pigments, and other additives.
About Astra Polymers
Astra Polymers is the largest and leading company that develops and produces plastic compounds in the Middle East. The company has developed a strong reputation locally and internationally, specializes in producing high quality masterbatch, compounds for pressure pipes for water or gas, superior colors, dust free additives, and thermoplastic compounds as well as liquid and paste dyes. Astra Polymers owns five factories (KSA, UAE, Turkey and India) that specialize in the production of masterbatches for most plastic application.
Since its establishment in 1993, the company has taken unprecedented firm steps to reach its goals, and this is reflected in its success in the plastic industry. Further information on Astra Polymers is available on the website at: http://www.astra-polymers.com.
BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. We combine economic success, social responsibility and environmental protection. Through science and innovation we enable our customers in almost all industries to meet the current and future needs of society. Our products and system solutions contribute to conserving resources, ensuring healthy food and nutrition and helping to improve the quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF posted sales of about €73.5 billion in 2011 and had more than 111,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at http://www.basf.com.
Karen Gallacher Smythe
SOURCE BASF FZE