13 February 2013 10:44 [Source: ICIS news]
LONDON (ICIS)--The Polish Office of Competition and Consumer Protection (UOKiK) has approved BASF’s acquisition of toluene di-isocyanate (TDI) assets from the Ciech group, the regulator said on Wednesday.
In January, Ciech subsidiary Zaklady Chemiczne Zachem (Zachem) ceased TDI production following the transaction with Germany-based BASF which included intangibles such as client lists, trade agreements and intellectual rights and also know-how related to TDI technology.
The deal, which included an embedded contractual non-competition obligation, would not significantly reduce competition, UOKiK said.
Earlier on Wednesday, Ciech announced that Zachem has closed its 30,000 tonne/year epichlorohydrin (ECH) plant in Bydgoszcz. Mariusz Babula, a spokesman at Ciech said: "A decision to shut down the ECH unit, that was hitherto related to the production of toluene diisocyanate (TDI), was necessary due to the sale and transfer of intangible assets related to the production of TDI [to BASF]".
Additional reporting by Janos Gal
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