BASF to increase price for formic acid in the United States and Canada

FLORHAM PARK, NJ, November 01, 2017 – Effective November 15, 2017, or as contracts allow, BASF will increase its prices for all grades of formic acid sold in the United States and Canada by $0.04/lb.

Formic acid is a high-quality intermediate used in a broad range of applications. In animal nutrition, for example, it is used as a feed preservative. Potassium formate, a salt of formic acid, is an environmentally acceptable and highly efficient de-icing agent used on roads and airport runways. Both formic acid and potassium formate are also used in the oilfield industry as part of the drilling and completion process, as well as in shale gas exploration.

BASF is the world’s leading producer of formic acid with production plants at its integrated Verbund sites in Ludwigshafen, Germany; Nanjing, China; and Geismar, Louisiana.

About BASF

BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 17,500 employees in North America, and had sales of $16.2 billion in 2016. For more information about BASF’s North American operations, visit www.basf.us.

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 114,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of about €58 billion in 2016. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.

P-US-17-118