Austria: Takeover of Production Site BASF Sells Paper Dispersions Plant to Synthomer
BASF has sold the production site for styrene-butadiene-based paper dispersions in Pischelsdorf, Austria to Synthomer Austria. The agreed purchase price amounts to approx. $ 37 million.
Ludwigshafen/Germany — The company announced in a press release that the concentration of the production of paper dispersions in Ludwigshafen and Hamina, which is associated with the divestiture of the production site in Pischelsdorf, would strengthen the competitiveness of BASF in the European market.
The 42 employees who work at the Pischelsdorf site have been taken on by Synthomer Austria. Consent by the competent antitrust authorities has been obtained.
The Dispersions & Pigments division develops, produces and markets a range of high-quality pigments, resins, additives and polymer dispersions worldwide. These raw materials are used in formulations for coatings and paints, printing and packaging products, construction chemicals, adhesives, fiber bondings, plastics, and paper as well as for electronic applications such as displays.