BASF finalizes the divestiture of its Pischelsdorf production site in Austria to Synthomer Austria GmbH
Ludwigshafen, Germany, February 1, 2018 - BASF has completed the announced divestiture of the production site for styrene-butadiene-based paper dispersions in Pischelsdorf, Austria to Synthomer Austria GmbH, a subsidiary of the British specialty chemicals manufacturer Synthomer plc. Consent by the competent antitrust authorities has been obtained.
The agreed purchase price amounts to ?30 million; the 42 employees who work at the Pischelsdorf site have been taken on by Synthomer Austria GmbH.
The concentration of the production of paper dispersions in Ludwigshafen and Hamina, which is associated with the divestiture of the production site in Pischelsdorf, will strengthen the competitiveness of BASF in the European market. With this measure, BASF has laid the foundations that will enable the company to continue to offer its customers products and services at attractive terms well into the future. At the same time, and based on its application technology expertise and its enhanced product portfolio, BASF is further expanding its market position as a leading supplier of dispersions for paper finishing, in particular in the field of packaging and barrier applications.
About BASF's Dispersions & Pigments division
The Dispersions & Pigments division of BASF develops, produces and markets a range of high-quality pigments, resins, additives and polymer dispersions worldwide. These raw materials are used in formulations for coatings and paints, printing and packaging products, construction chemicals, adhesives, fiber bondings, plastics, and paper as well as for electronic applications such as displays. With its comprehensive product portfolio and its extensive knowledge of the industry, the Dispersions & Pigments division offers its customers innovative and sustainable solutions and helps them advance their formulations. For further information about the Dispersions & Pigments division, please visit www.dispersions-pigments.basf.com.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 114,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of about ?58 billion in 2016. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.