BASF acquires Burtin Corporation

WYANDOTTE, Michigan, May 4, 2001 - BASF announced today that it has acquired Burtin Polyurethanes Corporation and certain assets of Burtin LLC.

A producer of polyurethane systems, Burtin, based in Santa Ana, California, is a major provider of polyurethane elastomers used in many applications including truckbed liners. Burtin operates facilities in Santa Ana and Cartersville, Georgia.

"The acquisition of Burtin is consistent with BASF's strategy to grow our presence in spray applied urethanes," said Joe Steiner, Director Urethane Specialties. "The future for both urethane and polyurea elastomeric coatings is exciting. BASF is committed to developing this market segment."

BASF Corporation is the third largest producer of chemicals and related products in the United States, Canada and Mexico, with sales of $7.9 billion in 2000. Based in Mount Olive, NJ, BASF Corporation is the North American affiliate of BASF AG (Ludwigshafen, Germany), which is listed on the New York Stock Exchange under the trading symbol "BF."

"We don't make a lot of the products you buy. We make a lot of the products you buy better.®" summarizes BASF's diverse product mix including chemicals, polymers, automotive and industrial coatings, colorants, nylon fibers and agricultural products. BASF in North America employs more than 15,000 people at more than 50 locations. BASF Corporation can be found on the Internet at www.basf-corp.com.