BASF, Petroferm, Lubrizol announce portfolio transactions

BASF, Petroferm, Lubrizol announce portfolio transactions

BASF, Petroferm Inc., and The Lubrizol Corporation have announced the closing of agreements for the acquisition of BASF's Gurnee, Ill., manufacturing site by Petroferm and for the acquisition of BASF's North American-based silicones business by Lubrizol.

Petroferm is going to quire BASF's ester, alkoxylates and silicones surfactant manufacturing site at Gurnee, Ill., one of five U.S. surfactants manufacturing sites that BASF operates and will be operated by the Petroferm subsidiary, Lambent Technologies Corporation. Lambent is to continue supplying BASF with surfactants under the terms of a long-term toll manufacturing agreement.

"Over the past three years, our Lambent organization has demonstrated that we can be both competitive and profitable in our core markets. We want to continue to grow with our customers' businesses and to be ready with plenty of capacity when the economy eventually recovers. The Gurnee production facility fits our long-term strategy well." said Mike Hayes, Chief Executive Officer, Petroferm.

Lubrizol's is purchasing BASF's North American-based silicones business which includes the customer list, MASIL(R) and MAZU(R) trademarks, manufacturing technology and other related intellectual property specifically developed for silicones products in the NAFTA region, and finished goods inventory.

"We are pleased to have completed this acquisition of the BASF silicone products business," stated Don Bogus, Lubrizol Vice President, Fluid Technologies for Industry, "especially the well recognized MASIL and MAZU product lines. The addition of this business expands our foam control additive product line and customer base, and the acquisition adds a number of new silicone products to the Lubrizol portfolio for use in other markets beyond foam control."