MOSCOW (MRC) -- BASF Corporation and Gabriel Performance Products, LLC, a U.S. based specialty chemical company, finalized a transaction transferring the highly recognizable Versamid trademark to Gabriel, and exclusively licensing the polyamide curing agent technology in the U.S. Versamid polyamide curing agents are used for two component solvent-borne epoxy applications, said the company on its site.
"The Versamid product line is well known within the industry and this acquisition strengthens Gabriel’s position in the epoxy curing market," said Seth Tomasch, CEO of Gabriel Performance Products. "It is an excellent complement to our mercaptan product line, and we look forward to serving customers who formerly looked to BASF for epoxy curing agent solutions."
The transaction with Gabriel follows BASF’s announcement in July that they will close the Dimer and Polyamide Resins unit at the Kankakee, Illinois site, exit the business, and divest intellectual property including trademarks. BASF continues to operate the Kankakee site, which supplies products for the Nutrition and Health and Care Chemicals Divisions of the company. BASF intends to work closely with Gabriel to transition customers through March 2016.
BASF will continue to manufacture, market and sell PUR technologies through the back license of the Versamid® trademark with Gabriel. Versamid PUR polyurethane resins are used for flexographic and gravure printing ink applications. BASF South America is excluded from this transaction and will continue to manufacture, market and sell polyamide resins under the Versamid trademark in the South American region.
As MRC informed earlier, BASF has signed a contract to divest its subsidiary company Magenta Master Fibers s.r.l. (MMF) located in Magenta, Italy, including MMF’s wholly owned subsidiary in Shanghai, China (Magenta Master Fibers Co., Ltd.), to PolyOne Corporation, a leading global provider of specialized polymer materials, services and solutions based in Cleveland, Ohio.
Gabriel Performance Products, LLC is a market-leader in epoxy additives and specialty chemical manufacturing. Gabriel is focused on expanding its epoxy specialty offerings beyond its market-leading mercaptan-based curative technology.
BASF is the largest diversified chemical company in the world and is headquartered in Ludwigshafen, Germany. BASF produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries. BASF had sales of over EUR74 billion in 2014 and over 113,000 employees as of the end of the year.