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Germany’s two major chemical companies announced on the same day changes to their business operations: BASF is consolidating its poly**furan operations in Asia and has stopped production at its poly**furan plant in Ulsan, South Korea; Evonik is selling its betaine business located in Bugis, Indonesia. On November 3, BASF announced its plan to integrate its PolyTHF business in Asia at its facility in Caojing, Shanghai, and to cease production of PolyTHF at its plant in Ulsan, South Korea; the closure of that plant is expected to be completed by 2026. BASF said it is taking decisive actions to address the structural changes in the global chemical fiber market, such as severe overcapacity. This business adjustment is part of BASF’s ongoing strategic assessment of its global production layout, aimed at enhancing competitiveness in line with the corporate strategy of \"Achieving Success Through Smart Strategies\". Following the closure of the Ulsan plant, BASF will continue to produce poly**furan at its facilities in Caojing, China, Ludwigshafen, Germany, and Gaisma, the United States, with a total production capacity of 250,000 tons per year. On the same day, Evonik announced the sale of its betaine business in Cilegon, Indonesia, as part of its efforts to transform into a supplier of sustainable specialty chemicals. On October 31, Evonik and its joint venture partner PT Sumi Asih officially completed the sale of this asset to the South Korean chemical company Aekyung Chemical; the transaction included 100% of the shares in the PT Evonik Sumi Asih joint venture. For a long time, Evonik has held a leading global position in the betaine market, but in recent years it has gradually divested its global assets and businesses related to betaine. In August 2020, the betaine business located in Milton Keynes, UK, was sold, and its European betaine operations were integrated into Essen, Germany. In August 2022, Evonik sold its betaine business in Hopewell, Virginia, USA. However, Evonik stated that it will continue to operate its betaine business in Europe and Latin America. It is reported that betaine is an amphoteric surfactant that is used as an ingredient in shampoo, conditioner, and skincare product formulations, and is widely applied in the personal care industry as well as other consumer goods sectors.