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BASF to acquire Solvays global polyamide business

September 21/2017

MOSCOW (MRC) -- BASF and Solvay have signed an agreement related to the sale of Solvays integrated polyamide business to BASF, said the company on its website.

The purchase price on a cash and debt-free basis would be EUR1.6 billion. According to applicable laws, the intended transaction is subject to consultations with the relevant social bodies of Solvay, following which both companies will enter a binding purchase agreement. Solvay and BASF aim to close the transaction in the third quarter of 2018, after customary regulatory approvals have been obtained and the formal consent of a joint venture partner has been received. The partner has already committed to grant its consent subject to the delivery of definitive documents with BASF.

The acquisition would complement BASFs engineering plastics portfolio and expand the companys position as a solution provider for the transportation, construction, industrial applications and consumer industries. Regionally, the transaction would enhance access to key growth markets in Asia and South America. At the same time, the purchase would strengthen BASFs polyamide 6.6 value chain through increased polymerization capacities and the backward integration into the key raw material ADN (adipodinitrile).

For the full year 2016, net sales of the business to be purchased    from Solvay amounted to EUR1,315 million and EBITDA to around EUR200 million. It has approximately 2,400 employees globally, thereof approximately 1,300 in France. Worldwide, it operates 12 production sites, 4 R&D locations and 10 technical support centers. The business would be integrated into BASFs Performance Materials and Monomers divisions.

Solvay is a multi-specialty chemical company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers in diverse global end markets. Its products and solutions are used in planes, cars, smart and medical devices, batteries, in mineral and oil extraction, among many other applications promoting sustainability. Its lightweighting materials enhance cleaner mobility, its formulations optimize the use of resources and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 27,000 employees in 58 countries. Net sales were EUR10.9 billion in 2016, with 90% from activities where Solvay ranks among the worlds top 3 leaders.

BASF is the largest diversified chemical company in the world and is headquartered in Ludwigshafen, Germany. BASF 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.


mrcplast.ru
Author:Anna Larionova
Tags:PVC, BASF, Solvay, Solvin, Belgiya, Germany.
Category:General News
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