BASF, Lanxess consider U.S. petrochemical facilities

02/4/2013 | Wall Street Journal/CFO Journal, The

BASF and Lanxess are looking at building petrochemical facilities in the U.S. to take advantage of cheap natural gas, executives said. "Resources are a lot cheaper in the U.S. than Asia," while Europe is three times more expensive for energy, said Bernhard Duttmann, chief financial officer at Lanxess. The biggest hurdle to expanding U.S. production is finding a skilled workforce, said BASF CFO Fried-Walter Munstermann.

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Wall Street Journal/CFO Journal, The