BASF India’s parent company ‘BASF SE, Germany’ has signed an agreement to acquire Solvay’s integrated polyamide business globally for a purchase price (on a cash and debt free basis) of 1.6 billion euro. The said transaction is subject to approval by the relevant authorities and is expected to close in the third quarter of 2018.
Solvay has approximately 2400 employees globally and operates 12 production sites, 4 R&D locations and 10 technical support centres. For the full year 2016, the net sales of the business to be purchased from Solvay amounted to 1315 million euro and EBITDA to around 200 million euro.
The acquisition would complement BASF’s engineering plastics portfolio and expand BASF’s position as a solution provider for the transportation, construction, industrial applications and consumer industries.
BASF India is a chemical manufacturing company. It operates in the business segments of agricultural solutions, performance products, plastics businesses and chemicals. The agricultural solutions include insecticides, herbicides, fungicides and specialties.