BASF to Acquire Chemetall Surface Treatment Business from Albemarle Corp.
United
States: BASF
SE, a multinational chemicals manufacturer based in Germany expected to
purchase the Chemetall surface treatment business division of US based
Albemarle Corp. at a cash price of USD3.2 billion. In early 2015, acquisition
of Rockwood Holdings worth USD6.32 billion by Albemarle Corp. lead to the addition
of Chemetall business to Albemarle. Albemarle appointed Bank of America to
divest its Chemetall surface coatings business. Chemetall, headquartered in
Frankfurt, is a global supplier of applied metal surface treatments. The
company has 21 production facilities located in 20 countries along with 10
R&D facilities and 24 sales offices. The products of Chemetall provides
protection of metals from corrosion, enables forming and machining, helps in preparation
of parts through painting process, and ensure proper coating adhesion. These
products are majorly used in automotive, aerospace, coil, and metal forming
industries etc.
TechSci Research depicts that
this acquisition would further help BASF to expand is coatings product
portfolio. In addition, it would further help the company to strengthen its
position in the paints and coating business globally. This agreement would
further help to company expand and increase profits in downstream, innovation,
and solution based businesses