BASF has closed the previously announced transaction to divest its ultrafiltration membrane business to DuPont Safety & Construction (DuPont).
Terms of The Transactions
The divestiture includes the shares of inge GmbH, the business’ headquarters and production site in Greifenberg, Germany, including all employees, its international sales force, and certain intellectual property previously owned by BASF SE. Financial details of the transaction are not being disclosed.
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The inge team has done a great job in developing the ultrafiltration membrane technology into a well-established player in the market. However, synergies with BASF are very limited,” said Anup Kothari, President, Performance Chemicals, BASF.
“For the ultrafiltration membrane business, becoming part of DuPont, a strategic buyer, provides strong value creation potential and will enable it to reach the next level of growth.”
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As a global leader in innovative water solutions, we are continually looking for ways to help our customers solve water challenges around the world,” said Rose Lee, President, DuPont Safety & Construction.
The ultrafiltration membrane business had been part of BASF’s Performance Chemicals division.
Source: BASF