MOSCOW (MRC) -- BASF has closed the previously announced transaction to divest its global Polyolefin Catalysts business to W. R. Grace & Co., a global leader in specialty chemicals and materials, said the producer on its site.
The relevant merger control approvals have already been granted.
The deal includes BASF's high-activity polyethylene (PE) catalyst technologies that are used in slurry processes for the production of high-density PE resins for applications such as bimodal film and pipe as well as polypropylene (PP) catalyst technologies used in all major PP process technologies. Grace acquired technologies, patents, trademarks, and production plants in Pasadena, Texas and Tarragona, Spain. Approximately 170 former BASF employees have joined Grace.
Grace says it will address the financial impact of the acquisition during the company’s second-quarter 2016 earnings conference call.
Grace says the purchase is aligned with its focus on its core catalysts and materials technologies, including its leading position in polyolefin catalysts as well as PP process technology.
As MRC informed earlier, Grace acquired Dow's Unipol PP process licensing and related catalyst business for USD510 million in 2013. Grace says the acquired BASF assets provide it with significant additional flexibility and capacity for its global polyolefin catalysts manufacturing network.
BASF’s Catalysts division is the world’s leading supplier of environmental and process catalysts. The group offers exceptional expertise in the development of technologies that protect the air we breathe, produce the fuels that power our world and ensure efficient production of a wide variety of chemicals, plastics and other products, including advanced battery materials. By leveraging our industry-leading R&D platforms, passion for innovation and deep knowledge of precious and base metals, BASF’s Catalysts division develops unique, proprietary solutions that drive customer success.
BASF generated sales of more than EUR70 billion in 2015. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).
MRC