BASF Leather Chemicals Unit To Become Part Of Stahl Group
LUDWIGSHAFEN (dpa-AFX) - BASF (BFA.L, BASFY.PK) announced the company and Stahl Group have signed an agreement to combine BASF's leather chemicals business with Stahl.
BASF will receive a 16% minority stake in the Stahl Group. The transaction comprises BASF's global leather chemicals business, as well as the leather chemicals production site in L'Hospitalet, Spain. Around 210 positions globally are in the scope of the transaction, of which about 110 are in Asia.
BASF Leather Chemicals business is a global supplier of chemical solutions to the leather industry. Headquartered in Singapore, the business operates sales, production plants and research and development globally. The Stahl Group is a leading company in process chemicals for leather products and performance coatings, in the future held by Wendel Group, Clariant and BASF.
BASF will supply significant volumes of leather chemicals to Stahl under mid to long-term supply agreements. The transaction is expected to take place in the fourth quarter of 2017.
Copyright RTT News/dpa-AFX
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