BASF plans selling its its Plastic Additives business unit PolyAd Services Edgewater Capital Partners

BASF to sell PolyAd Services business to Edgewater Capital Partners

8:57 AM, 5th March 2014
BASF plans selling its its Plastic Additives business unit PolyAd Services
BASF headquarters in Germany.

LUDWIGSHAFEN, GERMANY/FLORHAM PARK, US: BASF has signed an agreement to divest PolyAd Services, part of its Plastic Additives business unit, to Edgewater Capital Partners, LP, a private equity firm based in Cleveland, Ohio, US. The closing of the transaction is expected to take place in the second quarter of 2014. Financial details of the transcation were not disclosed.

“With the sale of PolyAd Services, our Plastic Additives business will focus even more on our core business areas, light stabilizers, antioxidants and Customer Specific Blends (CSBs), strengthening our ability to better serve the global market as the leading manufacturer of additives worldwide,” said Diego Lopez, Senior Vice President, Performance Chemicals North America, BASF.

 

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


AkzoNobel doubles industrial coatings capacity in China

AMSTERDAM, THE NETHERLANDS: AkzoNobel has completed the expansion of its Industrial Coatings site in Songjiang near Shanghai in China, doubling annual ...

Read more
Airgas acquires Welding & Therapy Services

RADNOR, US: Airgas Inc, one of the leading suppliers of industrial, medical, and specialty gases, and related products, has acquired Welding & The ...

Read more
Syngenta gets Brazilian approval for foliar fungicide

BASEL, SWITZERLAND: Syngenta’s breakthrough foliar fungicide, ELATUS, has been approved by the Brazilian authorities. ELATUS is a combination of ...

Read more
PPG acquires high heat resistant coatings supplier, Hi-Temp Coatings

PITTSBURGH, US: PPG Industries has completed its previously announced acquisition of substantially all of the assets of Hi-Temp Coatings Technology Co ...

Read more
Toray acquires US carbon fibre makers, Zoltek

TOKYO, JAPAN: Toray Industries Inc has completed the process of purchasing the entire stake in Zoltek Companies Inc, making the manufacturer of large ...

Read more
Sipchem opens cable insulation polymers plant in Jubail, Saudi Arabia

JUBAIL, SAUDI ARABIA: Saudi International Petrochemical Company (Sipchem) has commenced initial start-up of cable insulation polymers plant on 2 March ...

Read more