Ludwigshafen, Germany – June 8, 2010. BASF today announced that it has signed a definitive agreement to sell its hydrophilic melt additives business to Techmer PM, LLC, a manufacturer of colors and additives for the plastics and fiber industries located in Clinton, Tennessee, USA. The hydrophilic melt additives are currently marketed under the brand name Irgasurf® HL. Both companies have agreed not to disclose financial details of the transaction.
“In the course of the integration of the former Ciba Plastic Additives business we have analyzed our combined offering to the plastics industry and have decided that the Irgasurf® HL products do not fit our strategic scope,” explained Soeren Hildebrandt, Vice President Global Strategic Management and New Business Development in the Performance Chemicals Division.
“We are excited about the acquisition of BASF’s hydrophilic melt additives business and are in a unique position to successfully grow this business because it complements our existing product line and strong presence in the markets of fibers and nonwovens,” said John R. Manuck, President and CEO Techmer PM, LLC.
The transaction will include intellectual property and technical information but no transfer of the trademark Irgasurf®, tangible assets, or personnel and will have no impact on BASF’s organizational structure.
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics and performance products to agricultural products, fine chemicals as well as oil and gas. As a reliable partner BASF creates chemistry to help its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF posted sales of more than €50 billion in 2009 and had approximately 105,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.
About Techmer PM, LLC
Techmer PM, LLC is a major producer of value-added colors and additives for the plastics and fiber industries. The company has worldwide manufacturing capabilities focusing on high-performance applications where quality, technical support, and problem solving are critical.
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