MOSCOW (MRC) -- Through investments in the local facilities BASF enhances the competitiveness of the photoinitiator production in Mortara, Italy, and strengthens the site in the long term, as per the company's statement.
In 2014, BASF invests EUR4 to 6 million in its facilities in order to ensure the highest standards of safety and environmental protection and to improve the efficiency of the production lines. In addition, BASF extends its production of photoinitiators in Mortara. The site is one of the largest in the world for the production of photoinitiators.
The development, production and marketing of photoinitiators are a core business of BASF. BASF has built up a leading position in the UV coatings and inks market, with a strong portfolio comprising photoinitiators, light stabilizers, formulation additives and UV resins supported by intensive technical service. Added in very small quantities, photoinitiators speed up the drying process for UV curable coatings, inks and adhesives by triggering chemical reactions upon exposure to UV light.
As MRC reported earlier, in March 2014, BASF signed an agreement to divest PolyAd Services, part of its Plastic Additives business unit, to Edgewater Capital Partners, L.P., a private equity firm based in Cleveland, Ohio. The closing of the transaction is expected to take place in the second quarter of 2014. The parties have agreed not to disclose the financial details of the transaction.
BASF is the world’s leading chemical company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. BASF is also a leading manufacturer, supplier and innovation partner of additives for the plastics industry such as ultraviolet (UV) light stabilizers, antioxidants and process stabilizers, and other additives.
MRC