BASF India's Ultimate Holding Company BASF SE, Germany has signed an agreement with Solenis, a global producer of specialty chemicals headquartered in Wilmington, Delaware, to sell BASF’s flocculants business for mining applications. The divestment of its flocculants business to Solenis is part of its global portfolio optimization, aiming to focus on core strategic areas. The transaction is expected to close in the second half of 2024, subject to the approval of the relevant Competition Commission / Anti-trust authorities.
In India, the flocculants business for mining applications, forms part of the Performance Chemicals Division of Industrial Solutions Segment of BASF India. The flocculants business generated net sales of around Rs. 27.7 crore representing 0.20% of the total sales for the financial year ended March 31, 2024.
BASF India was incorporated in 1943 and one of the leading company in chemical sector.
