Elkem acquires Korean specialty silicone gels producer Basel Chemie

Elkem acquires Korean specialty silicone gels producer Basel Chemie

5:40 AM, 17th August 2019
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OSLO, NORWAY: Elkem ASA acquires Basel Chemie, a Korean producer of specialty silicone gels for cosmetics and water repellents for the construction industry. The acquisition gives Elkem access to leading technology in attractive end-user silicone segments and provides a solid platform for further development and growth.

Closing of the transaction is expected by the end of September 2019.

Founded in 1999, Basel Chemie has a state-of-the-art plant near Gunsan and a new research and development and office centre in Seoul. The company has 32 employees.

The company is a technology driven downstream silicones producer with a high-end speciality portfolio for both skin care and colour cosmetic applications, and water repellents for the construction industry. The companies have agreed an enterprise value of USD 26.9 million for the acquisition.

Elkem will boost Basel Chemie’s specialties through Elkem’s global sales and distribution network, including access to and integration with offerings to current customers and new markets where Elkem is present.

Basel Chemie will make Elkem a more comprehensive and attractive supplier within the cosmetics segment, and has an attractive product offering within building protection which can be leveraged outside Korea. The two companies will strengthen their research and development in both Asia and Europe and integrate their value chains.

“This acquisition strengthens our position in downstream specialised silicones. Basel Chemie complements our market offering and brings additional technologies to our specialty portfolio in Asia where we have strong positions in other segments. This technology and offering also holds further global potential. Acquiring Basel Chemie is in line with our strategy to take further positions in selected, specialised silicone segments”, said Helge Aasen, CEO of Elkem.

“Elkem expects to generate strong synergies from the acquisition within research and development, value chain optimization, complementary product offerings and global market positions. Basel Chemie’s leading position and technologies will reinforce our silicones portfolio for the personal care industry where Elkem has global reach and complementary products,” added Frederic Jacquin, SVP Elkem Silicones.

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