BASF to Sell Austria Paper-Coating Plant for EUR30 Million
September 27 2017 - 10:01AM
Dow Jones News
By Nathan Allen
Germany's BASF SE (BAS.XE) said Wednesday it will sell a
paper-coating dispersions plant in Austria to U.K.-based specialty
chemical producer Synthomer PLC (SYNT.LN) for 30 million euros
($35.4 million).
BASF expects the deal, which is subject to approval from merger
control authorities, to close in January 2018.
The company will now supply European customers from facilities
in Finland and at from its Ludwigshafen headquarters in Germany, a
move that it said will improve its ability to compete in a
challenging market. Production sites in Turkey and South Africa
won't be affected by the transaction.
Paper dispersions are combined with other additives to improve
the print quality of certain types of paper and cardboard, the
company said.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
September 27, 2017 09:46 ET (13:46 GMT)
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