BASF, Highsun sign MoU for European Polyamide 6 joint venture
EUROPE – BASF SE and Highsun Holding Group (HSCC) have entered into a non-binding Memorandum of Understanding to assess the possibility of combining their European operations across the polyamide 6 (PA6) value chain within a 50:50 joint venture.
The two companies are also considering whether to include their global extrusion activities outside North America in the proposed venture, although their engineering plastics downstream businesses are excluded from the evaluation.
Dr Markus Kamieth, Chairman of the Board of Executive Directors at BASF SE, said “The European chemical industry needs to become more competitive. It requires supportive industrial policies as well as consolidation to create stronger companies that are better positioned to compete successfully on a global scale.”
“Together with HSCC, we are exploring opportunities to strengthen our polyamide 6 businesses by combining the most competitive assets, the best technologies and the best commercial expertise both companies have to offer.”
BASF is a leading producer of polyamide 6 and its precursors, supplying industries that include packaging and textiles.
The company operates production facilities in Ludwigshafen, Germany; Antwerp, Belgium; Caojing, China; and Freeport, Texas, giving it one of the largest polyamide production networks in the world.
Chen Zhong, President and CEO of HSCC, described BASF as a globally leading chemical company with strong technological capabilities and a deep industry heritage. He said HSCC looks forward to exploring collaboration opportunities with BASF to advance both companies’ polyamide 6 and precursor businesses, adding that the partnership could generate significant collaboration and provide customers with more competitive products and solutions.
HSCC is headquartered in Fuzhou, in China’s Fujian Province, and is a multinational group operating across chemicals, chemical fibres, and advanced new materials.
It is recognised as a leading caprolactam producer and operates 31 manufacturing centres across China and Europe, with a fully integrated value chain extending from basic chemical raw materials to high-end new materials.
Founded in Fujian, China, in 1984, HSCC is the world’s leading caprolactam producer and provides comprehensive solutions across the polyamide industry chain and advanced new materials.
Headquartered in Changle, Fuzhou, in Fujian Province, the company operates four global industrial bases in Fujian, Jiangsu, and Guangdong provinces, as well as in Limburg, the Netherlands.
Working with leading industry partners, HSCC promotes the large-scale adoption of sustainable technologies, including chemical recycling, as part of its efforts to support a transition to a zero-carbon future. The company aims to align industrial development with environmental responsibility, creating a mutually beneficial relationship between economic growth and planetary well-being.
Sign up to receive our email newsletters with the latest news updates and insights from Africa and the World HERE.
