BASF to acquire Ticona's plastics
16 Dec 2003
In a move that complements its acquisition of Honeywell's engineering plastics operations earlier in the year, BASF is now to acquire the nylon 6,6 business of Ticona.
BASF is to acquire the nylon 6,6 business of Ticona for an undisclosed sum.
Although financial details of the transaction were not disclosed, the business itself generated sales of around 45 million Euros in 2002.
BASF will not acquire any manufacturing sites, equipment or related assets as part of the transaction.
For a period of time, Ticona will compound Celanese nylon 6,6 products for BASF from its Bishop, TX and Florence, KY sites in the US pursuant to a transitional services agreement.
Earlier in the year, BASF took over the world-wide engineering plastics business of Honeywell International and transferred its world-wide nylon fibres business over to Honeywell.
The BASF/Ticona deal will become effective on December 31, 2003.
