BASF to take over Solvay’s PA business
BASF and Solvay have signed an agreement for the sale of Solvay’s integrated polyamide business to BASF.
The business has approximately 2,400 employees globally, thereof approximately 1,300 in France, and achieved net sales of more than EUR 1,3 billion in 2016. Worldwide, it operates twelve production sites, four R+D locations and ten technical support centres. The purchase price would be EUR 1.6 billion. The companies aim to close the transaction in the third quarter of 2018, after customary regulatory approvals have been obtained. The acquisition would complement BASF’s engineering plastics portfolio and expand the company’s access to markets in Asia and South America. In addition, the purchase would strengthen BASF’s PA 6.6 value chain through increased polymerisation capacities and the backward integration into the raw material adipodinitrile.