BASF divests global photoinitiator business to IGM Resins
BASF to focus on resin and additive technologies for radiation-curing market
Continues to serve electronics industry with high-performance photoinitiators
BASF has sold its global photoinitiator business to IGM Resins B.V., Netherlands, a global producer and supplier of radiation-curable material. High-performance photoinitiators dedicated to specific needs of electronics customers are not part of the divestment, as the electronics industry is one of BASF’s strategic focus areas.
Photoinitiators are used in radiation-curing formulations in various industries. Typical end-user applications are coatings for furniture and flooring as well as inks for printing and packaging.
"This transaction allows BASF to focus on its core resins and additives technologies in the radiation-curing markets. Furthermore BASF will continue to serve the specific needs of the electronics industry with high-performance photoinitiators," said Dr. Markus Kramer, President of BASF’s Dispersions & Pigments division.
The transaction comprises business assets including technology, patents and certain trademarks, customer relationships and business-related contracts as well as the company’s photoinitiator production site in Mortara, Italy. The transfer of the Mortara site and all of its employees to the acquiring company is expected to be completed shortly after the consultations with local employee representatives.
Approximately 120 employees are affected globally. Both parties have agreed not to disclose financial details of the acquisition.
About BASF‘s Dispersions & Pigments division
The Dispersions & Pigments division of BASF develops, produces and markets a range of high-quality pigments, resins, additives and polymer dispersions worldwide. These raw materials are used in formulations for coatings and paints, printing and packaging products, construction chemicals, adhesives, fiber bondings, plastics, paper as well as for electronic applications such as displays. With its comprehensive product portfolio and its extensive knowledge of the industry, the Dispersions & Pigments division offers its customers innovative and sustainable solutions and helps them advance their formulations. For further information about the Dispersions & Pigments division, please visit www.dispersions-pigments.basf.com.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 112,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of more than €70 billion in 2015. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information at www.basf.com.