Group 1 - BASF SE has entered into an agreement to sell its Styrodur business, an insulation material made from extruded polystyrene (XPS), to Karl Bachl Kunststoffverarbeitung GmbH & Co. KG, a leading manufacturer of insulation materials in Germany [1] - The divestment includes the Styrodur brand and is expected to be completed by mid-2025, pending clearance from relevant competition authorities [2] - This strategic move allows BASF to focus on its expandable polystyrene products, specifically the brands Neopor and Styropor, with plans to expand Neopor production capacity by 50,000 tons to 250,000 tons per year starting in early 2027 [3] Group 2 - BASF's stock has declined by 13.4% over the past year, compared to an 11.4% decline in the industry [3] - Currently, BASF carries a Zacks Rank of 5 (Strong Sell), while competitors like Carpenter Technology Corporation and MAG Silver Corp. have better rankings [4] - Carpenter Technology's current-year earnings estimate is $6.77, with a 175.2% stock gain over the past year, while MAG Silver's earnings estimate is 75 cents per share, with a 42.7% stock gain [5][6]
BASF Sells Styrodur Business to Focus on Expandable Polystyrene