BASF To Evaluate Strategic Options For Construction Chemicals Business
BASF India Limited informs that, as a part of its active portfolio management, BASF SE, Germany (Parent Company) continuously evaluates whether its businesses could better unfold their potential in a different setup.
In this context, BASF SE, Germany has decided to evaluate strategic options for its construction chemicals business to ensure a successful future development. The outcome of assessing strategic options is open and BASF SE could consider a merger of its construction chemicals business with a strong partner as well as a divestiture, subject to such approvals, as may be necessary. The agreement on a transaction is targeted in the course of 2019.
The Construction Chemicals business comprises admixture systems and construction systems. It generated sales of more than EUR 2.4 billion in 2017, operates in more than 60 countries and has around 7,000 employees worldwide. In India, the construction chemicals business, which forms part of the Functional Materials & Solutions segment, has generated sales of INR 455 crore for the year ended 31 st March 2018.