BASF completes acquisition of Degussa’s construction chemicals business
07/03/06, The acquisition of Degussa AG’s construction chemicals business by BASF Aktiengesellschaft was completed on July 1. The purchase price for equity is just under €2.2 billion. As a result, the transaction value for BASF is €2.7 billion.
The acquisition of Degussa’s global construction chemicals activities includes production sites and sales centers in over 50 countries as well as a research and development center in Trostberg, Germany.
“Construction chemicals is an innovative business area with cyclically resilient margins that we will develop into a profitable growth sector in BASF’s portfolio,” said Dr. Andreas Kreimeyer, member of the Board of Executive Directors of BASF Aktiengesellschaft responsible for the Performance Products segment. “We will now work together to integrate Degussa’s operations quickly into our existing business. In doing so, we will rely in particular on the expertise and innovativeness of our new colleagues. Together with our own staff, our aim is to build the best team in construction chemicals.”
“BASF is a strong and reliable partner that is pursuing a long-term strategy with this acquisition. I am pleased to have the opportunity to develop this business further with my team and provide new solutions for our customers,” said Dr. Bernhard Hofmann, head of BASF’s Construction Chemicals division. Hofmann was a member of the Board of Management of Degussa AG until the end of April 2006 and was head of the Construction Chemicals division at Degussa from 2001 to 2003.
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