BASF to sell German subsidiary for Wall Systems to ROCKWOOL
- All employees and the Marktredwitz site will be taken over
Ludwigshafen, Germany – July 18, 2013 – BASF has signed a contract with ROCKWOOL to sell BASF Wall Systems GmbH & Co. KG. The transaction comprises the German wall systems subsidiary including the Marktredwitz site. Currently, about 200 employees are working for the company who will be transferred to the new owner. The purchase is subject to approval by the relevant authorities and legal closing of the transaction is expected by the end of 2013.
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 2012 the company 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,” said Dr. Tilman Krauch, President of BASF’s Construction Chemicals division.
“BASF Wall Systems GmbH is a strong and well managed business which will fit well into the ROCKWOOL business. The acquisition enables us to put further weight behind our facade strategy and to get a significant foothold in the important German market for exterior insulation and finishing systems,” said Henrik Frank Nielsen, Managing Director of the ROCKWOOL Group’s Europe division. “In the future, we will be able to offer our customers more complete solutions consisting of insulation plus all the other necessary elements of a total facade system,” Nielsen added.
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 ROCKWOOL Group
The ROCKWOOL Group is the world’s leading supplier of innovative products and systems based on stone wool, especially for the insulation of residential and non-residential buildings. Moreover, the ROCKWOOL Group offers a wide range of specialty products including acoustic ceilings and cladding boards, special fibers for industrial use, effective insulation for the process industry and marine & offshore as well as noise and vibration systems for rail traffic. The Group’s head office is located in Hedehusene close to Copenhagen, Denmark. In 2012 the Group generated sales €1.97 billion and employed close to 10,000 employees. The company is listed on the NASDAQ OMX Nordic Exchange Copenhagen.
About BASF’s Construction Chemicals division
BASF’s Construction Chemicals division offers advanced chemicals solutions for new construction, maintenance, repair and renovation of structures: Our comprehensive portfolio encompasses concrete admixtures, cement additives, chemical solutions for underground construction, waterproofing systems, sealants, concrete repair & protection systems, performance grouts, performance flooring systems, tile fixing systems, expansion control systems and wood protection solutions. The Construction Chemicals division’s 6,400 employees form a global community of construction experts. To solve our customers’ specific construction challenges from conception through to completion of a project, we combine our know-how across areas of expertise and regions and draw on the experience gained in countless construction projects worldwide. We leverage global BASF technologies, as well as our in-depth knowledge of local building needs, to develop innovations that help make our customers more successful and drive sustainable construction. The division operates production sites and sales centers in more than 60 countries and achieved sales of about €2.3 billion in 2012.
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 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 €72.1 billion in 2012 and had more than 110,000 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.