BASF & UPC sign MoU to boost collaboration on sustainable solutions

UPC, a leading chemical company within the MiTAC-Synnex Group, specializes in the production of plasticizers and phthalic anhydride. With extensive manufacturingand operational facilities throughout Asia, UPC is currently expanding its production capacity and product portfolio to meet the evolving needs of the customers. Upon the startup of the Oxo plant at the Zhanjiang Verbund site in 2025, BASF will supply 2-Ethylhexanol (2-EH) and N-Butanol from the site to support UPC's rapidly growing market demands, especially in South China.

“BASF and UPC have been well-established partners, collaborating in oxo-alcohols and catalysts for phthalic anhydride and maleic anhydride,” said Haibo Tian, Vice President, Industrial Petrochemicals Asia Pacific, BASF. “This strategic agreement represents a key milestone in our partnership. We are confident that with the startup of our oxo-alcohol production at the Zhanjiang Verbund site in 2025, BASF and UPC will enhance our collaboration on a broader scale and continue to provide innovative and sustainable solutions to the market.”

“The milestone represents a crucial step forward as we join forces with UPC. It also underlines BASF's strong commitment to supporting our customers with cuttingedge solutions and high-quality products,” said Chris Wai, Vice President, Global Chemical Market Catalysts, BASF. “We aim to leverage our innovation strengths and expertise in developing catalytical technologies by providing state-of-the-art PA and MA catalysts to contribute to the stable daily operations in our customers' plants and drive sustainable growth to achieve commercial success.”

“Today marks a significant milestone in our journey at UPC,” said Ann Bih, President, UPC Group. “Our long-standing partnership with BASF has been built on mutual trust and shared goals, and this strategic agreement will pave the way for a more comprehensive collaboration between our two companies. As we move forward, we aim to leverage BASF’s expertise in oxo-alcohols and catalysts, enhancing our capabilities in producing high-performance products. Together, we will explore new avenues for innovation and sustainability, ensuring that we meet the evolving needs of our customers and the industry.”

This agreement not only further reinforces the collaboration between BASF and UPC but also sets a solid foundation for the development of sustainable and innovative solutions. Both parties will jointly promote BASF's low-carbon emission products, such as Biomass Balance (“BMB”) products and develop new products corresponding to UPC's value chain.

Background information on BASF’s new Verbund site in Zhanjiang

The Zhanjiang Verbund site will be BASF’s largest investment to date with around €10 billion upon completion. It will be operated under the sole responsibility of BASF and will be the company’s third-largest Verbund site worldwide, following  Ludwigshafen, Germany, and Antwerp, Belgium.

Note: The content of this press release has not been edited by Fibre2Fashion staff.

Fibre2Fashion News Desk (RM)