The transaction includes production sites and plants of BASF’s paper wet-end and water chemicals business in Bradford and Grimsby, UK; Suffolk, Virginia, USA; Altamira, Mexico; Ankleshwar, India, and Kwinana, Australia. From closing, BASF will account for its share in Solenis using the equity method and include its share of the company’s net income in EBIT before special items and EBIT for the BASF Group (reported under “Other”).
“Combining our strong heritages creates the leading customer-focused, global solutions provider for the paper and water industries. Customers from these industries will benefit from our joint strengths, resulting in an unparalleled and complementary range of products and services, state-of-the-art innovations and know-how,” said John Panichella, president and CEO, Solenis.
“Joining forces with Solenis is the right step for BASF’s paper and water chemicals business to maintain sustainable growth and will enable us to share in the future success of this promising joint entity. Together, we will provide the broadest scope of products and services to meet the needs of the global paper and water industry,” added Anup Kothari, president of BASF’s Performance Chemicals division.
Kirloskar Brothers Limited 5th Generation of Kirloskar family is now in charge of strategically important portfolios
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