BASF completes divestiture of PolyAd Services business to Edgewater Capital Partners, L.P.
Ludwigshafen, Germany/Florham Park, NJ – June 2, 2014 – BASF has successfully closed the previously announced transaction to divest its PolyAd Services business unit to Edgewater Capital Partners, L.P., a private equity firm based in Cleveland, Ohio. Edgewater Capital Partners intends to further grow PolyAd Services building on the expertise of the team.
BASF will move forward with increasing focus on its core Plastic Additives business areas: light stabilizers, antioxidants and Customer Specific Blends (CSBs). “The sale of PolyAd Services strengthens our ability to better serve the global market as the leader of plastic additives worldwide,” said Diego Lopez Casanello, Senior Vice President, Performance Chemicals North America.
About Plastic Additives
BASF is a leading manufacturer, supplier and innovation partner of additives for the plastics industry such as ultraviolet (UV) light stabilizers, antioxidants and process stabilizers, and other additives. For more information about additives, please visit: www.plasticadditives.basf.com
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 had sales of about €74 billion in 2013 and over 112,000 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.