BASF Acquires Parts of Ciech’s TDI Business
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BASF has announced the acquisition of parts of Ciech’s global TDI (toluene diisocyanate) business — subject to approval by the appropriate antitrust authorities. Closing of the transaction is expected in the first quarter of 2013.
The production facility of Ciech’s subsidiary Zachem, Poland, is not part of the transaction. Ciech and BASF will cooperate closely to facilitate an effective transition of supply agreements and support services for Ciech’s TDI customers
“This acquisition underlines our strong commitment to the TDI markets in Europe, the Middle East, Africa and worldwide”, said Raimar Jahn, President of BASF’s Polyurethanes division. “We are looking forward to establishing a successful partnership with Ciech’s customers.” BASF’s strong commitment to the TDI business is also illustrated by the construction of the world’s largest single-train TDI plant in Ludwigshafen.
Dariusz Krawczyk, President of the Management Board of Ciech, added: “We are confident that with BASF we have found the ideal purchaser for our TDI business. Our customers will benefit from BASF’s broad knowledge and experience in the polyurethanes market and its strong global set-up.”