BASF to Divest Wall Systems Business in Germany

BASF plans to divest its subsidiary BASF Wall Systems GmbH & Co. KG, together with the Marktredwitz site. Currently, BASF Wall Systems GmbH & Co. KG has approximately 190 employees, who will continue to be employed by the new owner.

BASF Wall Systems GmbH & Co. KG is a successful, medium-sized supplier of insulation and finishing systems in the German market. The company’s main field of business is systems for the exterior and interior thermal insulation of buildings that are sold under the Heck® brand. In addition, the company offers renovation and restoration systems for historical buildings under the Rajasil® brand. In 2011, the organization generated sales in the mid double-digit million euro range.

“Our Wall Systems business in Germany posted significant growth over the last few years. Nevertheless, there are only limited synergies with other BASF fields of activity that we can make use of. A new owner will be better able to drive the business,” said
Dr. Tilman Krauch, President of BASF’s Construction Chemicals division.

BASF Wall Systems GmbH & Co. KG assembles individual components to create approved insulation and finishing systems. This involves purchasing most of the components such as the materials for the insulation layer of the system. Hence, BASF Wall Systems GmbH & Co. KG is not part of the insulating materials business of BASF. The system components that are produced by BASF Wall Systems GmbH & Co. KG itself include in particular adhesive mortar and renders.

The insulating materials Neopor®, Styropor®, Styrodur® as well as insulating materials made of polyurethane are not affected by the planned divestiture. They remain integral parts of the BASF portfolio that contribute to the construction of energy-efficient buildings.

Source: http://www.basf.com

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