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Ludwigshafen, Germany, 2013/05/15 - BASF has signed a contract to sell its subsidiary Industrial Water Management France SAS based in Lyon, France to Degrémont - BASF.com. DE000BASF111
• Restructuring in the Performance Products segment is making progress;
• Divestiture of subsidiary for industrial water management in France.
BASF has signed a contract to sell its subsidiary Industrial Water Management France SAS based in Lyon, France to Degrémont, the world water treatment specialist for local authorities and industrial customers. Degrémont, a subsidiary of SUEZ ENVIRONNEMENT, will continue operations at the production sites in Lyon and La Courneuve, France. Closing of the transaction is expected to take place during the third quarter 2013.
BASF provides a comprehensive range of water treatment chemicals and filtration technology for the industrial and municipal waste water treatment sector. In future, BASF’s water solutions business will fully concentrate on these innovative offerings for the water industry. To this end, BASF previously announced the plan to divest its service-oriented industrial water management business to a strategic partner to further expand the business and give the current 61 employees a long-term perspective.
BASF (basf.com) is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. We combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of €72.1 billion in 2012 and more than 110,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).