BASF confirms talks to buy Sisas' PA/MA, plasticisers, BDO

12 May 2000 14:54  [Source: ICIS news]

LONDON (CNI)--German chemicals and life sciences giant BASF confirmed Friday it is in negotiations to buy Italian group Sisas' phthalic anhydride (PA), maleic anhydride (MA), plasticisers plus butanediol (BDO) and derivatives at its Feluy and Ostend sites in Belgium.

In a statement, BASF said: "Both partners intend to successfully conclude the negotiations over the next few months", and added that the final agreement is subject to regulatory approvals. BASF said details of the talks will remain confidential.

Earlier Friday, Sisas declined to comment on whether talks were underway with BASF, as revealed last week by CNI. Last week BASF declined to comment on the whether negotiations for the assets were in progress, although sources close to the company indicated a deal might happen.

BASF said the acquisitions will help strengthen its position in European markets for plasticisers plus BDO and its derivatives. PA is a precursor for plasticisers and polyester resins. BDO and its derivatives are used in plastics, specialty solvents and as precursors for elastomers.

The acquisition list of plants being negotiated for, at Feluy, is:

• 100 000 tonne/year of PA
• 125 000 tonne/year of BDO, including derivatives, plus the production of the precursor MA
• 100 000 tonne/year of plasticisers

At Ostend, the BASF purchase list covers:

• 100 000 tonne/year of PA
• 80 000 tonne/year of plasticisers

By: Patrick Reynolds
+44 208 652 3214

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