Basf(US:BASFY) Zhong Guo Hua Gong Bao·2025-11-04 09:09Group 1 - BASF announced the integration of its Asian PolyTHF business into its Shanghai Caojing site and will cease production at its Ulsan facility in South Korea, with the closure expected to be completed by 2026 [1] - The decision is part of BASF's global production strategy assessment aimed at enhancing competitiveness in response to structural changes in the global chemical fiber market, including severe overcapacity [1] - After the Ulsan plant closure, BASF will continue to produce PolyTHF at its sites in China, Germany, and the USA, with a total capacity of 250,000 tons per year [1] Group 2 - Evonik announced the sale of its betaine business in Indonesia to Aekyung Chemical, marking a step towards its transformation into a sustainable specialty chemicals supplier [1] - Evonik has been gradually divesting its global betaine-related assets, having sold its business in Milton Keynes, UK, in August 2020, and its Virginia, USA, business in August 2022 [2] - Despite the divestitures, Evonik will continue its betaine operations in Europe and Latin America, as betaine is widely used in personal care products and other consumer goods [2]