BASF India’s parent firm to buy Germany’s Chemetall for $3.2 billion
BASF SE of Germany signs agreement to acquire chemical firm Albemarle's global surface treatment business of its unit Chemetall for $3.2 bn
Mumbai: Specialty chemicals maker BASF India Ltd on Wednesday said its parent company BASF SE of Germany has signed an agreement to acquire chemical firm Albemarle Corp.’s global surface treatment business of its unit Chemetall Gmbh for $3.2 billion.
This international transaction is subject to approval by the relevant authorities and is expected to close by the end of 2016.
In India, Chemetall operates through its subsidiary, Chemetall India Pvt. Ltd, which generated sales of $24 million in 2015 and has around 150 employees.
The products of Chemetall complements BASF’s current portfolio by adding surface treatment business of its coatings offerings, BASF India said in a statement.
In India, the coatings business is a part of the ‘Functional Material & Solutions’ segment of BASF India.
Chemetall, headquartered in Frankfurt, has approximately 2,500 employees globally and operates 21 production sites in more than 20 countries, as well as 10 research and development locations and 24 sales offices.
For the calendar year 2015, global sales of Chemetall were $845 million.
The chemicals manufactured by Chemetall are used in a wide range of industries and by end-users, primarily automotive, aerospace, coil and metal forming.
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