MOSCOW (MRC) -- The German chemicals giant BASF has signed a contract to sell its Vinuran PVC modifier business to Kaneka Belgium N.V., a subsidiary of Kaneka Corporation, Japan, according to the company's press release.
The transaction comprises intangible assets and inventory. It does not include a transfer of the production assets or employees in Ludwigshafen.
Subject to approval by the relevant antitrust authorities, the closing of the transaction is expected to take place during the first quarter of 2014. The parties have agreed not to disclose the purchase price or any further financial details.
The acrylate-based Vinuran PVC modifier business is not a core business for BASF. The transaction allows BASF to focus on growth of its acrylate-based dispersions portfolio.
The deal represents a good strategic fit for Kaneka and will enable Kaneka to expand its services to the PVC processing industry.
Vinuran products are PVC modifiers based on acrylate that improve impact resistance and processing properties in transparent and opaque PVC applications. Vinuran-modified PVC grades are suitable for the production of dimensionally stable, weatherproof panels, films and profile sections frequently used in the construction sector.
As MRC informed before, in September 2013, SIBUR, a leading Russian gas processing and petrochemicals company, and BASF signed a Long-Term Cooperation Memorandum to supply additives used for polymer production and processing at SIBUR’s production facilities. The deal provides for supplies of additives used to produce polypropylene, polyethylene, synthetic rubbers, thermoplastic elastomers (TPE), and ABS plastics at SIBUR's production facilities, with BASF ensuring also technical support.
BASF is the leading chemical company. It produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries.
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