BASF sells Wibarco

News

BASF has signed an agreement to sell its subsidiary Chemische Fabrik Wibarco to Hansa Chemie International of Zurich, Switzerland for an undisclosed fee.

BASF

has signed an agreement to sell its subsidiary

Chemische Fabrik Wibarco

to

Hansa Chemie International

(HCI), of

Zurich, Switzerland

.

Both companies have agreed not to disclose the transaction price or other financial details. The transaction, which is subject to antitrust approval, is expected to close in July 2007.

Wibarco, located in Ibbenbüren in northern Germany, mainly produces linear alkylbenzene (LAB). LAB is a starting material for linear alkylbenzene sulphonate (LAS), a key component of most modern detergents. Hansa Chemie International will take over the Ibbenbüren site, which has a workforce of approximately 80 employees.

‘The newly acquired production site is an excellent fit for our growth strategy in chemicals,’ said Khodayar Alambeigi, President of HCI’s Administrative Board. ‘This acquisition and the simultaneous expansion of Hansa Group’s surfactants business will result in a backward integration in our value chain. The existing LAB plant and the planned construction of a sulphation plant in Ibbenbüren will strengthen our market position in surfactants.’

Wibarco is part of BASF’s Performance Chemicals division, which produces and markets a broad range of high-value chemicals for use in a variety of industries. In 2006, the Performance Chemicals division posted sales of €3.3bn.