BASF completes acquisition of Solvay polyamide business.

Expand the engineering plastics business and drive innovative solutions
help BASF further enter growth markets such as Asia and South and North America
strengthen the polyamide 6.6 value chain by integrating the upstream key raw material acetylene (ADN
Through this transaction, BASF has expanded its polyamide business by incorporating well-known
®
such as Technyl and other brands under its wing. BASF has been able to provide customers with better engineering plastic solutions, such as high-quality solutions for self-driving

. The deal also helps BASF better access key growth markets such as Asia, North and South America. By integrating the upstream key raw material acetylene (ADN), BASF will strengthen the polyamide 6.6 value chain as a whole to improve supply reliability. BASF paid 1.3 billion euros for the deal on a cashless and debt-free basis, and the Solvay-related business, which was acquired by BASF, will have sales of about 1 billion euros in 2018. The business will be integrated into BASF's Characteristic Materials business unit and the monolith business unit.
T. Smith, Executive Board Member of BASF Europe, said, "Our customers will benefit greatly from BASF's broader product portfolio, greater regional influence and more reliable supply. This acquisition represents our strong commitment to the global polyamide business.
's deal with BASF includes Solvay's eight production sites in Germany, France, China, India, Korea, Brazil and Mexico, as well as research and development centers and technical advisory centers in Asia, North and South America. The deal also includes a 50 per cent stake in Butachimie, a joint venture plant with Inveda that produces a 51 per cent stake in the new joint venture between BASF and Dommer Chemical, which produces a 51 per cent stake in alsachimie, a joint venture between BASF and Dommer Chemical.
the deal is completed, about 700 Solvay employees will join BASF. Alsachimie, BASF's joint venture with Dommer Chemical in France, has about 650 employees, and Butachimie, BASF's joint venture with Inveda, has about 400 employees.
September 2017, BASF and Solvay signed an agreement to acquire Solvay's overall polyamide business, which was approved by the relevant regulatory authorities. On 18 January 2019, the European Commission approved BASF's acquisition of the polyamide business, provided that the conditions were met, requiring the divestiture of part of the original transaction, the production facilities and innovation capabilities of solvl polyamide in Europe, to third-party buyers. Dommer Chemical, based in Leuna, Germany, was approved as a buyer by the European Commission. Solvay and Dom Chemical also completed the transaction on January 31, 2020.about BASF
at BASF, we create a new role in chemistry - the pursuit of a sustainable future. We combine economic success, social responsibility and environmental protection. WITH approximately 122,000 employees worldwide, BASF contributes to the success of customers in almost all countries and industries. Our products are divided into six business areas: chemicals, materials, industrial solutions, surface treatment technology, nutrition and care, agricultural solutions. BASF's global sales in 2018 will be approximately EUR 63 billion. BASF's shares are listed on the Frankfurt (BAS) Stock Exchange and traded on the U.S. stock market in the form of American Deposit receipts (BASFY).
.