BASF to acquire Solvay’s global polyamide business
BASF and Solvay have signed an agreement related to the sale of Solvay’s integrated polyamide business to BASF at a purchase price of EUR1.6 billion. The acquisition strengthens BASF's position as a provider of solutions for a wide range of industries.
Solvay and BASF aim to close the transaction in the third quarter of 2018, after customary regulatory approvals have been obtained and the formal consent of a joint venture partner has been received. The partner has already committed to grant its consent subject to the delivery of definitive documents with BASF.
Access to key growth markets
The acquisition would complement BASF’s engineering plastics portfolio and expand the company’s position as a solution provider for the transportation, construction, industrial applications and consumer industries. Regionally, the transaction would enhance access to key growth markets in Asia and South America. At the same time, the purchase would strengthen BASF’s polyamide 6.6 value chain through increased polymerization capacities and the backward integration into the key raw material ADN (adipodinitrile).
12 production sites wordwide
For the full year 2016, net sales of the business to be purchased from Solvay amounted to EUR1,315 million and EBITDA to around EUR200 million. It has approximately 2,400 employees globally, thereof approximately 1,300 in France. Worldwide, it operates 12 production sites, 4 R&D locations and 10 technical support centers. The business would be integrated into BASF’s Performance Materials and Monomers divisions.
