BASF and Solenis complete the previously announced merger of BASF’s wet-end Paper and Water Chemicals business with Solenis. With pro forma sales of approximately $3 billion, the combined company will operate under the Solenis brand and provide expanded chemical offerings for customers in pulp, paper, oil and gas, chemical processing, mining, biorefining, power, municipal and other industrial markets.
BASF owns 49% of the combined company and 51% is collectively owned by Solenis management and funds managed by Clayton, Dubilier & Rice (CD&R). The new Solenis has approximately 5,200 employees.
The merger includes the Paper and Water assets of BASF’s Performance Chemicals unit, including production sites in Bradford and Grimsby, UK; Suffolk, Virginia, USA; Altamira, Mexico; Ankleshwar, India; and Kwinana, Australia and related assets including intellectual property. BASF’s paper coating chemical business is not part of the transaction.
“Joining forces with Solenis is the right step for BASF’s Paper and Water Chemicals business to maintain sustainable growth,” says Anup Kothari, president of BASF’s Performance Chemicals division.
For more information, visit: www.Solenis.com