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A leak of an organic solvent led to an explosion and subsequent fire in the southern part of the BASF site in Ludwigshafen, Germany, reported the company.
Despite the fire that broke out at BASF’s headquarters on Monday, the company and police officials have confirmed that it has been extinguished an hour later. The blaze, ignited by an explosion in the southern section of the building, resulted in minor injuries to eighteen people, including seven firefighters.
The extent of production disruptions remains unclear. A plume of smoke was visible from outside the facility. BASF’s environmental monitoring equipment detected slightly elevated hydrocarbon levels in the surrounding area, but the company emphasised that there is no danger to the public.
BASF: The World’s Leading Chemical Supplier
BASF, the acronym for the German company Badische Anilin- und Sodafabrik, is a global chemical powerhouse headquartered in Ludwigshafen, Germany. It holds the title of the world’s largest chemical producer.
It consistently holds the title of the world’s largest chemical company in terms of revenue and employs nearly 112,000 people globally as of 2023. Although the company’s revenue of €68.9 billion in 2023 marked a decrease from the previous year, its net income saw a slight rise to a value of €225 million, contrasting with a net loss of €627 million.
With its extensive global network of production sites and subsidiaries, the company profoundly impacts various aspects of daily life, from plastics and coatings to crop technology and performance chemicals.
Fire Dampens Innovation Drive
Alongside their global manufacturing influence, BASF also invests heavily in research and development. BASF’s unwavering focus on innovation, safety, and sustainability has yielded groundbreaking achievements in materials science, eco-friendly technologies, and sophisticated chemical processes. The recent fire at its headquarters has disrupted this progress, unsettling stakeholders. The company’s share price took a hit, falling 2% by Monday midday, after an earlier decline of 2.8% in response to the incident.
