BASF and Gabriel Performance Products, LLC, a U. S. based specialty chemical company, signed a contract to transfer the BASF Capcure® business to Gabriel Performance Products. The transaction was formally completed today.
Capcure® mercaptan-based curatives are used in epoxy curing applications that require rapid room temperature cure. The Capcure® product line acquisition strengthens Gabriel’s position in the epoxy curing market. “Gabriel Performance Products continually seeks opportunities to strengthen its overall product portfolio,” said Ken Allen, President and CEO of Gabriel.
The Capcure® product line is well known since its inception 45 years ago. “The transaction allows BASF to further optimize its product portfolio after the acquisition of Cognis in 2010,” said Detlef Ruff, Vice President Global Strategy, New Business and Product Development Dispersions & Pigments of BASF.
The transition provides for a 60 day period, or until February 15, 2013, to ensure supply reliability to customers during the transition. Additional details of the transaction were not disclosed.
Source: http://www.basf.com