By Nathan Allen

Germany's BASF SE (BAS.XE) said Wednesday it will sell a paper-coating dispersions plant in Austria to U.K.-based specialty chemical producer Synthomer PLC (SYNT.LN) for 30 million euros ($35.4 million).

BASF expects the deal, which is subject to approval from merger control authorities, to close in January 2018.

The company will now supply European customers from facilities in Finland and at from its Ludwigshafen headquarters in Germany, a move that it said will improve its ability to compete in a challenging market. Production sites in Turkey and South Africa won't be affected by the transaction.

Paper dispersions are combined with other additives to improve the print quality of certain types of paper and cardboard, the company said.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

September 27, 2017 09:46 ET (13:46 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
BASF (QX) (USOTC:BASFY)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more BASF (QX) Charts.
BASF (QX) (USOTC:BASFY)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more BASF (QX) Charts.