Solenis and BASF complete merger
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 $3 billion, the combined company will operate under the Solenis brand and is positioned to provide expanded chemical offerings and cost-effective solutions for customers in pulp, paper, oil and gas, chemical processing, mining, biorefining, power, municipal and other industrial markets.
BASF will own 49% of the combined company and 51% 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, UK; Suffolk, Virginia, USA; 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.
Solenis is a leading global producer of specialty chemicals for water-intensive industries, including the pulp, paper, oil and gas, chemical processing, mining, biorefining, power and municipal markets.
Source: Lesprom Network