BASF divests leather chemicals business Stahl

BASF divests leather chemicals business to Stahl

11:22 AM, 23rd March 2017
BASF logo

LUDWIGSHAFEN, GERMANY: BASF SE and Stahl Group have signed an agreement to combine BASF’s leather chemicals business with Stahl.

The closing of the transaction is expected to take place in the fourth quarter of 2017.

Stahl is a leading company in process chemicals for leather products and performance coatings, in the future held by Wendel Group, Clariant and BASF.

Under the terms of the agreement, BASF will receive a 16 percent minority stake in the Stahl Group. Furthermore, BASF will supply significant volumes of leather chemicals to Stahl under mid to long-term supply agreements.

The transaction comprises BASF’s global leather chemicals business, as well as the leather chemicals production site in L’Hospitalet, Spain. Around 210 positions globally are in the scope of the transaction, of which about 110 are in Asia.

“This partnership is the right step for BASF’s successful leather chemicals business. “With complementary strengths, BASF and Stahl are creating a leading company in leather chemicals with a strong focus on innovation,” said Michael Heinz, member of the board of executive directors of BASF SE.

“Our customers will benefit as together we can leverage unparalleled strength in production, technical expertise, innovation and sustainability along the entire leather-making value chain,” added Dr Christian Fischer, president performance chemicals.

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