Germany-based chemical firm BASF, which maintained “good business performance in the third quarter, with sales rising by 8% to EUR19 billion (due to higher volumes), is buying parts of Poland-based Ciech’s global TDI (toluene diisocyanate) business. BASF also recently opened its first Russian applications technology centre for PU systems.

The Ciech acquisition is subject to approval by the appropriate antitrust authorities. Closing of the transaction is expected in the first quarter of 2013. Financial terms of the agreement were not disclosed.

The agreement involves parts of Ciech’s worldwide TDI business. Production facility of Ciech’s subsidiary Zachem, Poland, is not part of the transaction. Ciech and BASF will cooperate closely to facilitate an effective transition of supply agreements and support services for Ciech’s TDI customers.

BASF says its strong commitment to the TDI business is also illustrated by the construction of the world’s largest single-train TDI plant in Ludwigshafen, Germany.

Meanwhile, the PU technology centre is in Vsevolozhsk, near St. Petersburg. Like the System House in Nishnekamsk, which went into operation in 2000, this site will also be a part of the BASF joint venture Elastokam with the Russian company OAO Nishnekamskneftechim (NKNC). The area of 2000 sq m houses a technology centre and office space, alongside storage areas and a test laboratory.

(PRA)

Electronic Editions 2012