MOSCOW (MRC) -- BASF and Solvay have signed an agreement for the sale of Solvay’s integrated polyamide (PA) business to BASF, as per GV.
The business has approximately 2,400 employees globally, thereof approximately 1,300 in France, and achieved net sales of more than EUR 1,3 billion in 2016. Worldwide, it operates twelve production sites, four R+D locations and ten technical support centres. The purchase price would be EUR 1.6 billion.
The companies aim to close the transaction in the third quarter of 2018, after customary regulatory approvals have been obtained. The acquisition would complement BASF’s engineering plastics portfolio and expand the company’s access to markets in Asia and South America. In addition, the purchase would strengthen BASF’s PA 6.6 value chain through increased polymerisation capacities and the backward integration into the raw material adipodinitrile.
As MRC informed previously, in December 2016, AkzoNobel finalized the acquisition of BASF’s global Industrial Coatings business, which supplies a range of products for industries including construction, domestic appliances, wind energy and commercial transport, strengthening its position as the global number one supplier in coil coatings.
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. BASF generated sales of about EUR58 billion in 2016.
MRC