BASF Finalizes Divestiture of its Pischelsdorf Production Site in Austria
BASF has completed divestiture of the production site for styrene-butadiene-based paper dispersions in Pischelsdorf, Austria to Synthomer Austria GmbH, a subsidiary of the British specialty chemicals manufacturer Synthomer plc. The agreed purchase price totals €30 million.
The concentration of the production of paper dispersions in Ludwigshafen and Hamina, which is associated with the divestiture of the production site in Pischelsdorf, will strengthen the competitiveness of BASF in the European market, the company stated. According to BASF, the divestiture has laid the foundations that will enable the company to continue to offer its customers products and services at attractive terms long-term.
BASF stated that based on its application technology expertise and enhanced product portfolio, the company is further expanding its market position as a leading supplier of dispersions for paper finishing, in the field of packaging and barrier applications.