BASF plans divestiture of German subsidiary BASF Wall Systems
Ludwigshafen/Marktredwitz, Germany, November 6, 2012 – BASF plans to divest its subsidiary BASF Wall Systems GmbH & Co. KG, together with the Marktredwitz site. Currently, BASF Wall Systems GmbH & Co. KG has approximately 190 employees, who will continue to be employed by the new owner.
BASF Wall Systems GmbH & Co. KG is a successful, medium-sized supplier of insulation and finishing systems in the German market. The company’s main field of business is systems for the exterior and interior thermal insulation of buildings that are sold under the Heck® brand. In addition, the company offers renovation and restoration systems for historical buildings under the Rajasil® brand. In 2011, the organization generated sales in the mid double-digit million euro range.
“Our Wall Systems business in Germany posted significant growth over the last few years. Nevertheless, there are only limited synergies with other BASF fields of activity that we can make use of. A new owner will be better able to drive the business,” said
Dr. Tilman Krauch, President of BASF’s Construction Chemicals division.
BASF Wall Systems GmbH & Co. KG assembles individual components to create approved insulation and finishing systems. This involves purchasing most of the components such as the materials for the insulation layer of the system. Hence, BASF Wall Systems GmbH & Co. KG is not part of the insulating materials business of BASF. The system components that are produced by BASF Wall Systems GmbH & Co. KG itself include in particular adhesive mortar and renders.
The insulating materials Neopor®, Styropor®, Styrodur® as well as insulating materials made of polyurethane are not affected by the planned divestiture. They remain integral parts of the BASF portfolio that contribute to the construction of energy-efficient buildings.
About the Construction Chemicals division
BASF’s Construction Chemicals division is the leading supplier of chemical systems and formulations for the construction industry. Continuous innovation and tailor-made solutions ensure its customers are more successful. Its product portfolio comprises admixture systems, cement additives, solutions for underground construction, repair systems and performance grouts, expansion control systems, waterproofing solutions and sealants, flooring systems, tile fixing systems, wall systems and solutions for wood protection. The division operates production sites and sales centers in more than 60 countries and achieved sales of about €2.2 billion with approximately 7,000 employees in 2011.
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. We combine economic success, social responsibility and environmental protection. Through science and innovation we enable our customers in almost all industries to meet the current and future needs of society. Our products and system solutions contribute to conserving resources, ensuring healthy food and nutrition and helping to improve the quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF posted sales of about €73.5 billion in 2011 and had more than 111,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.
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