BASF Announces Acquisition of Certain Assets of Ciech’s Toluene Diisocyanate Business

BASF and Ciech today announced the acquisition of parts of Ciech’s global TDI (toluene diisocyanate) business by BASF. The acquisition is subject to approval by the appropriate antitrust authorities. Closing of the transaction is expected in the first quarter of 2013. Financial terms of the agreement were not disclosed.

The agreement involves parts of Ciech’s worldwide TDI business. Production facility of Ciech’s subsidiary Zachem, Poland, is not part of the transaction. Ciech and BASF will cooperate closely to facilitate an effective transition of supply agreements and support services for Ciech’s TDI customers.

“This acquisition underlines our strong commitment to the TDI markets in Europe, the Middle East, Africa and worldwide”, said Raimar Jahn, President of BASF’s Polyurethanes division. “We are looking forward to establishing a successful partnership with Ciech’s customers.” BASF’s strong commitment to the TDI business is also illustrated by the construction of the world’s largest single-train TDI plant in Ludwigshafen.

Dariusz Krawczyk, President of the Management Board of Ciech, added: “We are confident that with BASF we have found the ideal purchaser of our TDI business. Our customers will benefit from BASF’s broad knowledge and experience in the polyurethanes market and its strong global set-up.”

TDI is a key component for the polyurethanes industry. To a large extent it is used in the furniture segment (e.g. flexible foams for mattresses, cushions or wood coating) as well as in the automotive industry (e.g. seating cushions and interior applications).

BASF is a leading supplier of basic products for polyurethanes and operates TDI plants in Geismar, Louisiana; Yeosu, Korea; Caojing, China; Schwarzheide, Germany; and as of 2014 in Ludwigshafen, Germany.

Source: http://www.basf.com

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    BASF Corporation. (2019, February 09). BASF Announces Acquisition of Certain Assets of Ciech’s Toluene Diisocyanate Business. AZoM. Retrieved on December 06, 2019 from https://www.azom.com/news.aspx?newsID=34463.

  • MLA

    BASF Corporation. "BASF Announces Acquisition of Certain Assets of Ciech’s Toluene Diisocyanate Business". AZoM. 06 December 2019. <https://www.azom.com/news.aspx?newsID=34463>.

  • Chicago

    BASF Corporation. "BASF Announces Acquisition of Certain Assets of Ciech’s Toluene Diisocyanate Business". AZoM. https://www.azom.com/news.aspx?newsID=34463. (accessed December 06, 2019).

  • Harvard

    BASF Corporation. 2019. BASF Announces Acquisition of Certain Assets of Ciech’s Toluene Diisocyanate Business. AZoM, viewed 06 December 2019, https://www.azom.com/news.aspx?newsID=34463.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit