BASF today announced that as part of its portfolio management, it intends to divest its global pigments business.
Announcing the company’s financial results in Ludwigshafen, Martin Brudermüller, CEO, said that the company is initiating the sale of this business, which includes a broad portfolio of pigments and effect pigments as well as preparations. The operation generated sales of around €1 billion ($1.14 billion) in 2018, has approximately 2,600 employees, and serves more than 5,000 customers worldwide. BASF aims to conclude a transaction by the end of 2020 at the latest. Clariant is also in the process of selling its pigments operation.
Responding to CW’s question, Brudermüller said that the operation is no longer driven by innovation, is experiencing slow growth, and has many competitors in Asia. He further said that part of this business was acquired when BASF bought Ciba. BASF tells CW that the pigments business has manufacturing assets in Europe, United States, and Asia. In Europe, plants are located at Maastricht, Netherlands; Cologne, Ludwigshafen, and Besigheim, Germany; Huningue, France; and Monthey, Switzerland. In the United States, the company has facilities at Newport, Hartwell, North Charleston, and Peekskill. It also has a manufacturing facility at Ulsan, South Korea.
By Natasha Alperowicz
Source: Chemical Week
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