Sole­nis and BASF to com­bine busi­nesses

Chemical Industry Digest - - News & Views -

Sole­nis and BASF signed an agree­ment to com­bine BASF’s pa­per and wa­ter chem­i­cals busi­ness with Sole­nis to cre­ate a global spe­cialty chem­i­cal com­pany. The com­bined com­pany will oper­ate un­der the Sole­nis brand and will pro­vide ex­panded of­fer­ings in two spe­cialty chem­i­cal busi­nesses: pa­per tech­nolo­gies and in­dus­trial wa­ter tech­nolo­gies. The trans­ac­tion is ex­pected to close around the end of 2018 fol­low­ing reg­u­la­tory ap­provals and other cus­tom­ary con­di­tions.

For the pulp and pa­per in­dus­try, the prod­uct port­fo­lio of the com­bined en­ter­prise will cover the en­tire range of wa­ter, process and func­tional chemistries as well as com­pre­hen­sive ser­vice ca­pa­bil­i­ties. Ac­cord­ing to Sole­nis, for wa­ter­in­ten­sive mar­kets, cus­tomers will ben­e­fit from Sole­nis’ ser­vice ca­pa­bil­i­ties and BASF’s broad wa­ter treat­ment chem­i­cals plat­form.

The trans­ac­tion com­prises BASF’s global pa­per and wa­ter chem­i­cals busi­ness, in­clud­ing nearly 1,300 em­ploy­ees glob­ally. Upon the close of the trans­ac­tion and in ac­cor­dance with lo­cal laws, em­ploy­ees will trans­fer to Sole­nis. The trans­ac­tion in­cludes the pa­per and wa­ter busi­ness as­sets of BASF’s Per­for­mance Chem­i­cals unit, in­clud­ing pro­duc­tion sites in Brad­ford and Grimsby, UK; Suf­folk, Vir­ginia, United States; Al­tamira, Mex­ico; An­klesh­war, In­dia; and Kwinana, Aus­tralia. BASF’s pa­per and wa­ter chem­i­cals pro­duc­tion plants in Lud­wigshafen, Ger­many, and Nan­jing, China, will not trans­fer and will de­liver raw ma­te­ri­als pur­suant to sup­ply agree­ments. BASF’s pa­per coat­ing chem­i­cal busi­ness is not part of the con­tem­plated trans­ac­tion. Sole­nis and BASF will con­tinue to oper­ate strictly as in­de­pen­dent com­pa­nies un­til the trans­ac­tion is com­plete.

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