21 December 2012 08:43 [Source: ICIS news]
SINGAPORE (ICIS)--BASF has signed a contract with Atlas Copco, Swedish machine manufacturer, to sell its MEYCO Equipment business providing concrete spraying machines to the tunnelling and mining industries, the Germany-based chemicals major said on Friday.
All of the estimated 40 employees working in the MEYCO Equipment business at the Winterthur site and the sales and service office in Hermsdorf, Germany will be transferred to the new owner, BASF said in a statement.
Both parties have agreed to not disclose financial details of the transaction, which is expected to be completed by the end of the first quarter of 2013, the statement added.
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