BASF to buy Recticel's specialty PU business

28 October 2008 09:35  [Source: ICIS news]

LONDON (ICIS news)--BASF has signed an agreement to buy Netherlands producer Recticel's worldwide polyurethane (PU) compounds business for glass encapsulation, the German chemicals major said on Tuesday.

No financial details were disclosed.

The transaction, which would be subject to approval by the relevant antitrust authorities, involves the polyurethane specialties business.

It also includes Recticel’s patented aliphatic light stable compounds under the Colofast brand name, BASF said.

It added that the PU technology was mainly employed for car glass encapsulation, a niche market for the connection of glass panes and car body.

In the future, BASF said, the technology would also be used in the production process of solar panels.

“By acquiring this business, BASF will achieve an excellent global position in this attractive specialty market,” said Jacques Delmoitiez, president of BASF’s polyurethanes division.

“At the same time we are adding a further innovative technology to our already comprehensive portfolio of PU solutions. This will open up great potential in the growing market for solar panel applications,” he added.

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By: Hilde Ovrebekk
+44 20 8652 3214

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