By P&PC Staff
By P&PC Staff
February 1, 2019 – BASF and Solenis have completed the previously announced merger of BASF’s wet-end paper and water chemicals business with Solenis.
With pro forma sales of approximately US $3 billion, the combined company will operate under the Solenis brand and will provide expanded chemical offerings and solutions for customers in pulp, paper, oil and gas, chemical processing, mining, biorefining, power, municipal and other industrial markets.
BASF will own 49 per cent of the combined company and 51 per cent is collectively owned by Solenis management and funds managed by Clayton, Dubilier & Rice (CD&R). The new Solenis has approximately 5,200 employees, with increased sales, service and production capabilities across the globe.
The merger includes the paper and water assets of BASF’s performance chemicals unit, including production sites in Bradford and Grimsby, U.K.; Suffolk, Virginia; Altamira, Mexico; Ankleshwar, India; and Kwinana, Australia, and related assets including intellectual property. BASF’s paper coating chemical business is not part of the transaction.
“Joining forces with Solenis is the right step for BASF’s paper and water chemicals business to maintain sustainable growth,” says Anup Kothari, president of BASF’s performance chemicals division. “Together, we will provide the broadest scope of products and services to meet the specialty chemical needs of the global paper and water industry.”