BASF completes transactions with Honeywell
BASF acquires engineering plastics business from Honeywell/BASF sells its nylon fibers business to Honeywell
BASF Aktiengesellschaft took over the worldwide engineering plastics business of Honeywell International, Morris Township, N.J. and transferred its worldwide nylon fibers business to Honeywell. The deals have been approved by all relevant regulatory authorities, including the U.S. Federal Trade Commission.
Through these transactions, which were announced on January 14, 2003, BASF is exiting the fibers market and concentrating on its plastics business, which also includes styrenics, polyurethanes and nylon intermediates.
The acquisition of Honeywell's engineering plastics business enhances BASF's product offerings to customers, particularly in the automotive, packaging and electrical & electronics industries. BASF is acquiring manufacturing facilities, research and development assets, as well as sales and technical service locations worldwide. The business being acquired includes about 500 Honeywell personnel.
Honeywell's engineering plastics business had sales of approximately $380 million in 2002. Together with BASF's engineering plastics and nylon intermediate activities, the combined businesses would have had pro-forma sales of almost approximately $2.2 billion in 2002.
BASF's sales in the nylon fibers business were approximately $360 million in 2002.
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