03 May 2012 16:06 [Source: ICIS news]
LONDON (ICIS)--BASF has acquired the nylon (or polyamide) polymer business of Brazil-headquartered Mazzaferro Group, as it looks to strengthen its position in the engineering plastics and nylon polymers market in South America, the Germany-based chemicals giant said on Thursday.
The companies agreed not to disclose the financial details of the transaction.
“This acquisition is part of BASF’s strategy to strengthen its position in the emerging countries,” said Wolfgang Hapke, president of BASF’s Performance Polymers division.
“The demand for polyamide in the automotive and extrusion industry will grow particularly strongly in Brazil,” he added.
The transaction includes Mazzaferro’s site and production facilities for nylon 6 (or polyamide 6) and engineering plastics compounds at Sao Bernardo do Campo, in the metropolitan area of Sao Paulo.
The polymerisation plant in Sao Paulo has a capacity of around 20,000 tonnes/year, the company said.
Mazzaferro’s monofilaments, fishing equipment and household products businesses are not part of the transaction, BASF added.
BASF said it is going to integrate the acquired business into its existing engineering plastics and nylon polymer business.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|