BASF India’s parent company ‘BASF SE, Germany’ has signed an agreement to acquire Albermarle’s global surface treatment business of Chemetall for a purchase price of $3.2 billion. The said transaction is subject to approval by the relevant authorities and is expected to close by the end of 2016.
Chemetall is a global technology and innovation leader in the metals surface treatment market and is headquartered in Frankfurt, Germany. Chemetall has approximately 2500 employees globally and operates 21 production sites in more than 20 countries, as well as 10 R&D locations and 24 sales offices. For the full calendar year 2015, global sales of Chemetall were $845 million.
In India, Chemetall operates through its subsidiary company ‘Chemetall India’, which generated a turnover of approximately $24 million in 2015 and has around 150 employees. The chemicals manufactured by Chemetall are used in a wide range of industries and end-users, primarily automotive, aerospace, coil and metal forming.
The products of Chemetall complements BASF’s current portfolio by adding highly attractive surface treatment business to its coatings offerings. In India, the coatings business is part of the Functional Material & Solutions segment of the company.
| Company Name | CMP |
|---|---|
| BASF India | 3739.05 |
| Tata Chemicals | 707.80 |
| SRF | 2541.95 |
| Pidilite Inds. | 1402.25 |
| Deepak Nitrite | 1731.10 |
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