BASF to divest Vinuran PVC modifier business to Kaneka
BASF has signed a contract to sell its Vinuran PVC modifier business to Kaneka Belgium N.V., a subsidiary of Kaneka Corporation, Japan. The transaction comprises intangible assets and inventory. It does not include a transfer of the production assets or employees in Ludwigshafen. Subject to approval by the relevant antitrust authorities, the closing of the transaction is expected to take place during the first quarter of 2014. The parties have agreed not to disclose the purchase price or any further financial details.
The acrylate-based Vinuran PVC modifier business is not a core business for BASF. The transaction allows BASF to focus on growth of its acrylate-based dispersions portfolio. The deal represents a good strategic fit for Kaneka and will enable Kaneka to expand its services to the PVC processing industry.
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