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BASF SE, which supplies materials to the packaging industry, is to sell more of its styrenics plastics business than initially planned.

In a statement made this morning (18 August) the company said that it is also putting the production of styrene copolymer up for sale.

BASF said it will reorganise its global styrenics operations into independent subsidiaries that will be set up in January 2009 while it continues to try to sell the businesses.

In February, the company said it was in negotiations with one potential buyer. In June it said, however, that it would be unable to keep its initial deadline to clinch a deal in the first half

The styrenic commodities and copolymers units employ 1,600 and generated sales of about €4bn (£3.2bn) in 2007.