15 May 2013 09:24 [Source: ICIS news]
SINGAPORE (ICIS)--BASF will sell its subsidiary - Industrial Water Management France SAS - to Degremont, a water treatment specialist, the German chemicals firm said on Wednesday.
Upon completion of the sale, Degremont will continue operations at production sites in Lyon and La Corneuve, BASF said.
Financial details of the transactions were not disclosed.
Paris-based Degremont is a subsidiary of Suez Environment
“Closing of the transaction is expected to take place during the third quarter 2013,” the company said.
The sale is part of BASF’s efforts to restructure its performance products segment.
BASF is divesting its service-oriented industrial water management business to focus its water solutions business on innovative offerings for the water industry.
The German company provides a comprehensive range of water treatment chemicals and filtration technology for the industrial and municipal waste water treatment sector.
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