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BASF completes acquisition of Degussa's construction chemicals business
Jul 5, 2006
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 euros. As a result, the transaction value for BASF is 2.7 billion euros.
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."
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."
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