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BASFY Closes Expandable Polystyrene Assets in South Korea's Ulsan
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Key Takeaways
BASF will end EPS production at South Korea's Ulsan Plastics site by mid-June 2026.
BASF says the closure supports a review of its styrenics network and competitiveness.
BASF will support customers, maintain supply and keep European styrenics operations unchanged.
BASF SE (BASFY - Free Report) recently announced the closure of its expandable polystyrene (EPS) production assets at the Ulsan Plastics site in South Korea, with production scheduled to cease by mid-June 2026.
The move is part of the company’s ongoing strategic review aimed at optimizing its global styrenics production network and improving competitiveness amid evolving market conditions. BASFY said it will continue supporting customers during the transition and ensure an uninterrupted product supply.
The latest closure continues BASFY’s broader restructuring efforts in its styrenics and petrochemicals businesses. Over the years, the company has streamlined several styrenics assets globally, including divestments and plant closures in Europe and Asia, as it adapts to changing market dynamics and overcapacity concerns. BASFY emphasized that its European styrenics operations remain unaffected and will continue to serve as a key pillar of its global EPS business.
Shares of BASFY are up 13.8% over the past year compared with the industry’s 2.2% rise.
The Zacks Consensus Estimate for NUE’s current-year earnings stands at $14.84 per share, implying a 92.5% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, with the average surprise being 8.1%.
The Zacks Consensus Estimate for FSTR’s current-year earnings is pegged at $1.74 per share, implying a 152.2% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in one of the trailing four quarters and missed thrice, with the average surprise being 3.62%.
The Zacks Consensus Estimate for ALB’s current-year earnings is pegged at $12.39 per share, indicating a 1,668.4% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average surprise being 74.5%.
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BASFY Closes Expandable Polystyrene Assets in South Korea's Ulsan
Key Takeaways
BASF SE (BASFY - Free Report) recently announced the closure of its expandable polystyrene (EPS) production assets at the Ulsan Plastics site in South Korea, with production scheduled to cease by mid-June 2026.
The move is part of the company’s ongoing strategic review aimed at optimizing its global styrenics production network and improving competitiveness amid evolving market conditions. BASFY said it will continue supporting customers during the transition and ensure an uninterrupted product supply.
The latest closure continues BASFY’s broader restructuring efforts in its styrenics and petrochemicals businesses. Over the years, the company has streamlined several styrenics assets globally, including divestments and plant closures in Europe and Asia, as it adapts to changing market dynamics and overcapacity concerns. BASFY emphasized that its European styrenics operations remain unaffected and will continue to serve as a key pillar of its global EPS business.
Shares of BASFY are up 13.8% over the past year compared with the industry’s 2.2% rise.
BASFY’s Zacks Rank & Key Picks
BASFY carries a Zacks Rank of #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Nucor Corporation (NUE - Free Report) , L.B. Foster Company (FSTR - Free Report) and Albemarle Corporation (ALB - Free Report) . NUE, FSTR and ALB carry a Zacks Rank of #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NUE’s current-year earnings stands at $14.84 per share, implying a 92.5% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, with the average surprise being 8.1%.
The Zacks Consensus Estimate for FSTR’s current-year earnings is pegged at $1.74 per share, implying a 152.2% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in one of the trailing four quarters and missed thrice, with the average surprise being 3.62%.
The Zacks Consensus Estimate for ALB’s current-year earnings is pegged at $12.39 per share, indicating a 1,668.4% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average surprise being 74.5%.