Ludwigshafen, Germany - BASF is to acquire parts of Polish chemical group Ciech's global TDI (toluene diisocyanate) business, excluding the production facility of Ciech's subsidiary Zachem in Poland.
A Ciech spokesman told UTI that BASF would purchase the sales and marketing activities, including research & development functions. Some 20 employees will transfer to BASF from Ciech, when the transaction closes in the first quarter of 2013, subject to approvals. Financial terms of the agreement were not disclosed.
In a joint statement, Ciech and BASF said they 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."
Dariusz Krawczyk, president of the management board of Ciech, added, "We are confident that with BASF we have found the ideal purchaser of our TDI business. Our customers will benefit from BASF's broad knowledge and experience in the polyurethanes market and its strong global set-up."
BASF operates TDI plants in Geismar, Louisiana; Yeosu, Korea; Caojing, China; Schwarzheide, Germany; and as of 2014 in Ludwigshafen, Germany, where it is building the world's largest single-train TDI plant.
Zachem has a 75-kilotonnes-per-annum TDI plant at a chemicals complex in Bydgoszcz in central Poland.