BASF completes acquisition of parts of Ciech’s TDI business
Waterloo, Belgium – March 11, 2013 – BASF has successfully completed its acquisition of parts of Ciech’s TDI (toluene diisocyanate) business. The TDI production facility of Ciech’s subsidiary Zachem, Poland, is not part of the transaction.
“With this acquisition, we are further developing our leading position in the isocyanates market,” said Kenneth Lane, Senior Vice President, Global Strategic Marketing and European Polyurethane Basic Products. “Our highest priority now is focusing on a seamless integration for our customers and our employees.”
TDI is a key component for the polyurethane industry. To a large extent it is used in the furniture segment (e.g. in flexible foams for mattresses, cushions or wood coating) as well as in the automotive industry (e.g. in seating cushions and interior applications).
BASF is a leading supplier of basic products for polyurethanes and operates TDI plants in Geismar, Lousiana; Yeosu, Korea; Caojing, China; Schwarzheide, Germany; and as of 2014 in Ludwigshafen, Germany.
About BASFBASF 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 with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF posted sales of €78.7 billion in 2012 and had more than 113 ,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 .