BASF agrees to buy Shell’s styrene catalysts business

29 November 2010 16:12  [Source: ICIS news]

LONDON (ICIS)--BASF has signed a purchase agreement to acquire the styrene catalysts business of CRI/Criterion, a wholly owned subsidiary of Shell based in Houston, Texas, the German chemicals major said on Monday.

Financial details of the transaction were not disclosed.

BASF said the acquisition of CRI/Criterion, a manufacturer of chemical catalysts used in the dehydrogenation of ethylbenzene to styrene, would complement the group’s existing styrene catalysts business.

“As a leading provider in the styrene catalysts market, the CRI/Criterion assets offer a very attractive fit with BASF’s existing solutions portfolio,” said Hans-Peter Neumann, senior vice president of BASF’s process catalysts and technologies business.

“The acquisition will improve BASF’s position in this important market segment while opening the door to attractive growth opportunities in emerging regions such as the Middle East and China, where CRI/Criterion already has a strong position,” he added.

The deal, still subject to regulatory approvals, is expected to be completed by the end of the year.

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By: Franco Capaldo
+44 (0)20 8652 3214

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