BASF to sell hydrophilic melt additives business to Techmer PM
09 June 2010
BASF, the world's largest chemical company yesterday agreed to sell its US-based hydrophilic melt additives business for an undisclosed sum to Techmer PM, a manufacturer of colours and additives for the plastics and fibre industries.
The hydrophilic melt additives are currently marketed under the brand name Irgasurf HL and its hydrophilic melt additives business is located in Clinton, Tennessee.
The transaction will include intellectual property and technical information but not the transfer of the trademark Irgasurf, tangible assets or personnel and will have no impact on the Ludwigshafen, Germany-based BASF's organisational structure.
''In the course of the integration of the former Ciba Plastic Additives business we have analysed our combined offering to the plastics industry and have decided that the Irgasurf HL products do not fit our strategic scope,'' said Soeren Hildebrandt, vice president Global Strategic Management and New Business Development in the Performance Chemicals Division.
''We are excited about the acquisition of BASF's hydrophilic melt additives business and are in a unique position to successfully grow this business because it complements our existing product line and strong presence in the markets of fibers and nonwovens'', said John Manuck, president and CEO Techmer PM.''
Techmer PM is a major producer of value-added colors and additives for the plastics and fiber industries. The company has worldwide manufacturing capabilities focusing on high-performance applications where quality, technical support, and problem solving are critical.
Its clients are from the agriculture, automotive, construction and pipes, electronic, fibres and textiles, food packaging, medical devices and packaging, non-wovens, shipping containers, and wire and cable industry.