BASF, a leading chemical company, has inked a deal to purchase inge watertechnologies, Germany-based provider of ultrafiltration membrane technology.
This technology is used for treating drinking water, used water, process water and sea water. BASF will also purchase the ultrafiltration membrane business of inge watertechnologies.
Dr. John Feldmann, Executive Director of BASF and in charge for the Performance Products segment, stated that the acquisition is a significant step in improving the company’s technology and business. He added that the transaction will enable them to address several global issues and will further establish their position in water treatment segment.
BASF and investors have decided not to reveal the financial data of the transaction. The deal has to be authorized by merger control officials and is likely to be completed by Q3 of 2011.
Hans W. Reiners, President of BASF’s Performance Chemicals Division, mentioned that by venturing into water treatment membrasnes business, they can create a novel mix of chemical and membrane technologies with the help of their water treatment and polymer research application expertise.
According to Dr. Matthias Halusa, VP of BASF’s Water Solutions Business, the company will be in a position to provide functionality-based package equipment such as membrane and chemical systems, depicting a significant step in the company’s development strategy for water treatment business.
Ultrafiltration membrane technology helps in removing microbes and particles from water by means of a low-pressure membrane method. Increasing demand for this innovative technology is driven by need for low footprint technology, better quality of drinking water, recycling water and wastewater treatment.
The acquisition of the water treatment business has enabled BASF to become a major provider of organic coagulants and flocculants, which are major technologies for treating water. The company focuses on developing a robust platform, enabling the expansion of water treatment business.
Bruno Steis, CEO of inge watertechnologies, expressed his pleasure to join a major company like BASF, which is known for global client network, financial backup and expertise. He added that this merger will bring in new innovation areas and widen their market presence.
Source: http://www.basf.com