Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
BASF has started operating a new plant for the production of nitric
acid at Antwerp Verbund site. Nitric acid is one of the most important
inorganic intermediates and the plant's output will be used mainly to
manufacture polyurethane. The facility has a production capacity of
500,000 metric tons per year and is one of the world's largest.
This is BASF's first nitric acid plant built using exclusively BASF's
own technology, in other words, all the engineering, procurement and
assembly expertise was supplied by BASF.
"We decided to build the plant with our own resources to save costs.
But another benefit for us is the gain in know-how. I am convinced that
this will provide a long-term strategic advantage for BASF," explains
Dr. Heinz-Josef Kneuper, Project Leader and Technology Manager for
Nitric Acid in the Regional Inorganic Chemicals Business Unit, Europe.
At the new Antwerp complex, nitric acid can be produced in a
concentration of 68 percent. 68 percent nitric acid is used mainly in
polyurethane chemistry to synthesize the isocyanates MDI and TDI. The
plant is fully automated with ultramodern process control systems (PCS)
and is equipped with a high efficiency system to remove nitrogen oxide
from waste gases.
This new plant will be replacing a system that is more than 40 years
old which means that the yield will also be increasing significantly.
BASF is the worlds leading chemical company: The Chemical Company. Its
portfolio ranges from oil and gas to chemicals, plastics, performance
products, agricultural products and fine chemicals. As a reliable
partner BASF helps its customers in virtually all industries to be more
successful. With its high-value products and intelligent solutions,
BASF plays an important role in finding answers to global challenges
such as climate protection, energy efficiency, nutrition and mobility.
BASF has more than 95,000 employees and posted sales of almost 58
billion in 2007. BASF shares are traded on the stock exchanges in
Frankfurt (BAS), London (BFA) and Zurich (AN).
Further information on BASF is available on the Internet at
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