April 24, 2024-Basf and Friendship Group signed a letter of intent for cooperation to further deepen the strategic partnership between the two sides, focusing on the supply of butyl acrylate (BA) and 2-ethylhexyl acrylate (2-EHA) from BASF's Zhanjiang integrated base to meet the growing demand of China's adhesive materials industry.
Friendship Group is a leading manufacturer of biaxially stretched polypropylene (BOPP) tape.The company is expanding its business into the field of special tape and has established multiple production bases in China.At present, Friendship Group is building a new factory in Guangdong for the production of BOPP film and tape, while BASF is also building an acrylic acid and ester plant at the Zhanjiang Integrated Base.The signing of the letter of intent aims to promote the cooperation and synergy between the two companies in Guangdong.
Tian Haibo, vice president of industrial petrochemical business management in Basf Asia Pacific, said: “We are very pleased to have reached a long-term strategic partnership with Friendship Group. This is also the first customer agreement to supply acrylates from the Zhanjiang integrated Base.With the new factory of Friendship Group in Guangdong and the acrylic acid and ester plant of Basf Zhanjiang Integrated Base set to be put into operation in 2025, we believe that the signing of this agreement will bring mutual benefit and win-win situation, and ensure competitiveness and reliability to support the growth of the tape industry.”
Lin Kebo, vice president of Friendship Group, said: "Basf has been an important partner of Friendship Group for more than 30 years.The signing of this letter of intent will significantly enhance the strategic partnership between the two sides and support our business development in the tape industry.The new installation at BASF's Zhanjiang Integrated base can not only continue to provide us with high-quality and reliable products, but also bring advanced base management and sustainable development concepts.We look forward to working closely with BASF to achieve success together.”
The acrylic acid and ester plant at Basf's Zhanjiang Integrated Base is planned to be put into operation in 2025, with an annual production capacity of about 400,000 tons of butyl acrylate and 100,000 tons of 2- ethylhexyl acrylate.Butyl acrylate is one of the esters of acrylic acid, which is used in the production of adhesives, architectural coatings and industrial coatings.2-ethylhexyl acrylate is an important raw material in the adhesive and coating industry.Basf Zhanjiang integrated base will use advanced technology and renewable energy electricity. Compared with other petrochemical bases that use natural gas as an energy source, it can significantly reduce carbon dioxide emissions, which is in line with the commitment of the two companies to environmental responsibility
