BASF finalizes divestiture of Austrian production site
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.
Concentration in Ludwigshafen and Hamina
With the concentration of the production of paper dispersions in Ludwigshafen and Hamina, which is associated with the divestiture of the production site in Pischelsdorf, BASF wants to strengthen its competitiveness in the European market. At the same time, and based on its application technology expertise and its enhanced product portfolio, BASF is further expanding its market position as supplier of dispersions for paper finishing, in particular in the field of packaging and barrier applications.