Sector News

BASF, Solenis to combine paper and water chemicals businesses

May 3, 2018
Chemical Value Chain

BASF SE and Solenis have agreed to combine their paper and water chemicals businesses, BASF said on Thursday.

The combined business, which had pro-forma sales of 2.4 billion euros ($2.88 billion), will be 49 percent owned by BASF, while funds managed by private equity firm Clayton, Dubilier & Rice will hold the rest, it said.

No financial details of the transaction were disclosed.

BASF has embarked on an organizational revamp. It has agreed to spend billions on agricultural seed assets from peer Bayer. BASF is also planning to merge its oil and gas division with rival DEA and float it on the stock exchange.

But Martin Brudermueller, who will take over as CEO has thrown his weight behind the chemical group’s strategy of keeping divergent businesses folded into one company, at a time when its major rivals such as DowDuPont (DWDP.N) are breaking themselves up.

($1 = 0.8339 euros)

By Maria Sheahan

Source: Reuters

comments closed

Related News

June 24, 2022

BASF to build commercial scale battery recycling black mass plant in Schwarzheide, Germany

Chemical Value Chain

BASF will build a commercial scale battery recycling black mass plant in Schwarzheide, Germany. This investment strengthens BASF’s cathode active materials (CAM) production and recycling hub in Schwarzheide. The site is an ideal location for the build-up of battery recycling activities given the presence of many EV car manufacturers and cell producers in Central Europe.

June 24, 2022

Clariant restructures business units, reorganizes leadership

Chemical Value Chain

Clariant says it is reducing its number of businesses from five to three, by merging units, under a reorganization that is in line with the company’s purpose-led strategy and cultural transformation. The moves will position Clariant for long-term sustainable growth, the company says.

June 24, 2022

Chemicals & Plastics Procurement: what to expect in the second half of 2022

Chemical Value Chain

Chemicals & plastics industry has the most diversified end-use market across all manufacturing industries. The industry returned to growth in 2021 but a supply chain crunch prevented it from becoming stronger. The market is likely to stabilize in the second half of 2022 with a supply-demand balance.