International. BASF announced plans to exit the dimer resins and polyamide business due to the North American market downturn over the past 15 years, driven by market overcapacity and a slump in key markets, including printing.
The decision will result in the closure of BASF's dimer and resin production unit in Kankakee, Illinois.
BASF will work with customers directly on the output of materials and support the transition to new suppliers by the end of 2015. The company is also evaluating the sale of intellectual property associated with the dimer and polyamide resins business. Trade names for products manufactured in Kankakee include Empol, Genamid, Versadyme, Versamid, Versamine and Versacure.
Image: BASF.com
