BASF completes divestiture of textile chemicals business to Archroma
Singapore – July 1, 2015 – BASF has closed the previously announced transaction to divest its global textile chemicals business to Archroma, a supplier of specialty chemicals to the textile, paper and emulsions industries. BASF will continue to manufacture and supply textile chemical products to Archroma.
Included in the transaction is the legal entity BASF Pakistan (Private) Ltd., Karachi. The closing of this divestiture is expected by August 2015. All remaining businesses of BASF in Pakistan, which are conducted by BASF Chemicals & Polymers Pakistan (Private) Limited, are not in the scope of the transaction.
At BASF, we create chemistry – and have been doing so for 150 years. Our portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. As the world’s leading chemical company, 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 over €74 billion in 2014 and around 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.