3 – Acquisitions and divestitures
Acquisitions
Effective January 1, 2017, BASF acquired the western European construction chemicals business from the Henkel group of companies with the trade names Thomsit® and Ceresit® for floor and tile-laying systems as well as sealants for professional users. This strengthened BASF’s portfolio in the construction chemicals business of the PCI Group, which belongs to the Construction Chemicals division.
On February 7, 2017, BASF acquired the private company Rolic AG, headquartered in Allschwil, Switzerland. The company develops and sells ready-to-use formulations and functional film products for the display and security industry against forgery as well as barrier materials and films. With the acquisition, BASF broadened its technology know-how and product portfolio of display materials. The largest part of the activities was integrated into the Dispersions & Pigments division and a smaller part in the Coatings division.
Divestitures
In the first quarter of 2017, BASF sold its inorganic specialties business to Edgewater Capital Partners LP, Cleveland, Ohio. The transaction comprised the production site in Evans City, Pennsylvania, and the product lines manufactured there: special alcohols, boranes and alkali metals.
Agreed-upon transactions
BASF and the Stahl group of companies signed an agreement on March 22, 2017, to combine BASF’s leather chemicals business with that of the Stahl group. The transaction comprises BASF’s global leather chemicals business – including the leather chemicals production site in L’Hospitalet, Spain – with around 210 positions, 110 of which are in Asia. Subject to the approval of relevant authorities, the transaction is expected to close in the fourth quarter of 2017. Under the terms of the agreement, BASF will receive a 16% minority stake in the Stahl group as well as a payment; this will result in special income.
On April 6, 2017, BASF announced that it had signed an agreement on the sale of its bleaching clay and mineral adsorbents businesses to EP Minerals LLC, based in Reno, Nevada. The divestiture affects a global business unit in the Catalysts division and comprises a production site as well as bleaching clay mines in Mississippi and a mineral rights sublease for a mine in Arizona. The sale closed on July 17, 2017, and 66 employees transferred to EP Minerals LLC.
BASF signed an agreement on June 2, 2017, to sell its production site for electrolytes in Suzhou, China, to Shenzhen Capchem Technology Co. Ltd., based in Shenzhen, China. The site is allocated to the Catalysts division. The transaction is expected to close in the third quarter.