Frankfurt, Dusseldorf The chemical group BASF wants to react to the high energy costs and falling margins with an extensive savings program. In addition to the savings of 500 million euros in areas outside of production announced in the autumn, the group is now also planning cuts in the production facilities themselves.
According to information from the Handelsblatt, it is certain that the BASF board of directors will announce the closure of part of its ammonia production in Ludwigshafen at the balance sheet press conference on Friday.
BASF currently operates two ammonia plants in Ludwigshafen, which were temporarily shut down last year. Due to the extremely high gas prices, they were no longer profitable to operate. According to information from company circles, the group does not want to put the older of the two systems back into operation.
BASF: Ammonia production consumes a lot of energy
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