BASF to Divest Global Polyolefin Catalysts Business
BASF SE, Ludwigshafen, Germany, has signed an agreement to sell its global Polyolefin Catalysts business to W.R. Grace & Co., Columbia, MD/USA. Currently, the Polyolefin Catalysts business is part of BASF’s Catalysts division. BASF and Grace intend to complete the transaction in the third quarter of 2016.
Grace is a leading supplier of polyolefin catalysts technology, as well as polypropylene (PP) process technology. The targeted transaction includes technologies, patents, trademarks and the transfer of BASF’s production plants in Pasadena, Texas, and Tarragona, Spain. It is intended that approximately 170 employees globally will also transfer to Grace. In addition to its proprietary PP and PE catalysts products and technology, the BASF assets provide Grace with significant additional flexibility and capacity for its global polyolefin manufacturing network.
“This sale was the best course of action for both the Catalysts division and for the long-term interests of the Polyolefin Catalysts business and its employees,” said Kenneth Lane, President, Catalysts division, BASF. “With this divestiture, we will continue to sharpen our focus on key growth areas, including our Chemical Catalysts and Refinery Catalysts businesses,” said Lane.
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