BASF has reportedly finalized its acquisition of Solvay’s polyamide (PA 6.6) business for €1.3 billion.
According to the company, the purchase will allow BASF to develop better engineering plastics products for autonomous driving and e-mobility and improve the company’s access to growth markets in Asia as well as in North and South America. Through the backward integration into the key raw material adiponitrile (ADN), BASF will now be present along the entire value chain for polyamide 6.6, the company said.
‘The acquisition stands for our strong commitment to the polyamide business globally,’ said Wayne T Smith, member of the board of executive directors at BASF.
The transaction between Solvay and BASF includes eight production sites in Germany, France, China, India, South Korea, Brazil and Mexico as well as research and development centers and technical consultation centers in Asia, North and South America. In addition, it encompasses shares in two joint ventures (JV) in France: Solvay’s 50% share in the Butachimie JV with Invista to produce ADN and hexamethylenediamine (HMD) and a 51% share in the new Alsachimie JV between BASF and DOMO Chemicals to produce adipic acid.
The business will be integrated into the Performance Materials and Monomers divisions of BASF.
This story uses material from BASF, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.