BASF finalizes the divestiture of its Pischelsdorf production site in Austria to Synthomer Austria GmbH
| Subj: Press-releses
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.