BASF sells marine biopolymers business to Norway’s Seagarden

03 July 2012 10:01  [Source: ICIS news]

LONDON (ICIS)--BASF is selling its marine biopolymers business to Norway’s specialty marine ingredients company Seagarden ASA, the German chemical major said on Tuesday.

BASF said it had signed a contract to transfer the business, Chitosan marine biopolymers, to Seagarden with the transaction expected to be completed by August 2012.

Financial details of the transaction were not disclosed.

Following completion of the transaction, Seagarden will own the Chitosan business including the production site in Tromsoe, Norway, and will produce natural seafood ingredients, marine bioactives and biopolymers, through its subsidiary Chitinor AS.

Chitosan marine biopolymers are used in personal care products and as pharmaceutical ingredients.

Seagarden is a specialty marine ingredients company selling 100% natural ingredients to the global savoury and nutritional markets.

By: Leigh Stringer
+44 208 652 3214

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