Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 BASF Acquiring Solvay’s Global Polyamide Business for €1.6 Billion - Coatings World

What are you searching for?

Sign in
Breaking News, Industry News

BASF Acquiring Solvay’s Global Polyamide Business for €1.6 Billion

Author Image

By: Anthony Locicero

Copy Editor, New York Post, Rodman Media

BASF on Tuesday said it signed an agreement with Solvay to purchase the latter’s integrated polyamide business for €1.6 billion ($1.91B). 

It is set to be integrated into BASF’s Performance Materials and Monomers divisions, according to Dr. Stefanie Wettberg, SVP, Investor Relations, BASF.

The companies plan to close the deal in the third quarter of 2018 after customary regulatory approvals have been obtained and the formal consent of a joint venture partner has been received, according to Wettberg.

Per Wettberg, net sales of the set-to-be purchased business totaled €1,315 million in 2016 (EBITDA around €200 million.)

The business has 2,400 employees worldwide – approximately 1,300 of them in France, according to Wettberg. There are 12 production sites, four R&D locations and 10 technical support centers, she added. 

Add us as a preferred source on Google

Get the latest Coatings World news, insights and analysis in your Google Search and AI experiences.

Add Coatings World as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Coatings World Newsletters