BASF (BASFY) Expands Sodium Methylate Capacity in South America

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At a recent client event in Guaratingueta, Sao Paulo, BASF SE's BASFY Monomers division announced that it has increased the manufacturing capacity for sodium methylate. During the second quarter, the company raised the nameplate capacity of its sodium methylate plant in Guaratingueta, Brazil, to 90,000 metric tons per year.

This capacity increase is another step in BASF's business expansion for sodium methylate in South America, demonstrating the company's commitment to its customers and the South American biodiesel market. In addition to the sodium methylate facility, the site houses 12 other production facilities that produce more than 1,500 solutions and products, including crop protection, adhesives, resins, paints, detergents, cosmetics and automotive market solutions.

Brazil is among the global leaders in the use and manufacturing of biofuels, such as biodiesel. Its growth has been aided by established legislation requiring a percentage of biodiesel to be mixed with petroleum diesel, not only promoting productivity and sustainability in heavy duty transportation but also assisting various regions in creating more economic opportunities for local citizens.

Sodium methylate is an effective and dependable catalyst that offers a more sustainable solution for the production and use of biodiesel, meeting engine manufacturers' demands for high-quality fuels and fewer emissions. Sodium methylate promotes higher yields and lower production costs for biodiesel.

Shares of BASFY have lost 1.7% over the past year against a 10.8% decline of its industry.

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Zacks Rank & Key Picks BASF currently carries a Zacks Rank #4 (Sell).

Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Ecolab Inc. ECL and Kronos Worldwide, Inc. KRO.

Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.1%. The company's shares have soared 93.2% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Ecolab's current-year earnings is pegged at $6.59 per share, indicating a year-over-year rise of 26.5%. The Zacks Consensus Estimate for ECL's current-year earnings has been going up in the past 30 days. ECL, a Zacks Rank #2 (Buy) stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.3%. The company's shares have rallied roughly 32.3% in the past year.

Kronos Worldwide currently carries a Zacks Rank #2. KRO has a projected earnings growth rate of 297.7% for the current year. The company’s shares have rallied around 42% in the past year.

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Source link : https://finance.yahoo.com/news/basf-basfy-expands-sodium-methylate-115900630.html Author : Publish date : 2024-07-09 07:59:00 Copyright for syndicated content belongs to the linked Source .

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BASF (BASFY) Expands Sodium Methylate Capacity in South America

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