BASF Offloads Mining Unit to SNF and Fires Up $1 Billion MDI Plant as Jefferies Turns Sour
Published on 11/15/2026 at 14:41 | Editorial boerse-global.de
BASF has agreed to sell its global mining solutions business to SNF, with the deal expected to close in 2027 subject to regulatory clearances and customary closing conditions. The transaction covers the entire worldwide operation — not just the Irish site — and includes the Cork production facility in Ireland together with roughly 140 employees. Neither company disclosed the financial terms.
The divestment caps a busy week for the Ludwigshafen-based chemicals group, which also brought a long-anticipated production asset onstream and announced a green-energy switch for part of its product range.
Louisiana MDI capacity takes a $1 billion step up
On Wednesday BASF officially commissioned its MDI plant at the Geismar integrated site in Louisiana. The investment came to around USD 1 billion, lifting the facility's annual MDI capacity to roughly 600,000 tonnes.
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Separately, BASF said it will manufacture suitable polyisobutene products for external customers in Europe entirely with electricity from renewable sources starting in January 2027. The switch, announced Tuesday, applies to the Oppanol B and Glissopal product lines. Product specifications and article numbers will remain unchanged, according to the company.
Jefferies moves to Underperform
Midweek brought a less welcome development. Jefferies downgraded BASF from "Hold" to "Underperform" on Wednesday while keeping its price target at EUR 44. Analyst Priyanka Patel pointed to shrinking margins, persistent overcapacity, higher gas prices and a demand recovery that has yet to materialise.
The brokerage's 2027 EBITDA forecast sits 5% below consensus. BASF itself had refined its guidance on 28 October, putting full-year 2026 EBITDA before special items at EUR 7.4 billion to EUR 7.8 billion. In the third quarter of 2026 the group posted EBITDA before special items of EUR 1.6 billion on sales of EUR 16.4 billion.
Buyback continues
Alongside the portfolio moves, BASF kept buying back its own stock. The company repurchased around 352,000 shares between 2 and 6 November inclusive, it said on 9 November.
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