The combined company will operate under the Solenis name as a
global specialty chemical company focused on
paper and industrial water
technologies.
WILMINGTON, Del., Jan. 31, 2019 /PRNewswire/ -- Following the
approval of all relevant authorities, BASF and Solenis have
completed the previously announced merger of BASF's wet-end Paper
and Water Chemicals business with Solenis. With pro forma sales of
approximately U.S. $3 billion, the
combined company will operate under the Solenis brand and is
positioned to provide expanded chemical offerings and
cost-effective solutions for customers in pulp, paper, oil and gas,
chemical processing, mining, biorefining, power, municipal and
other industrial markets.
BASF will own 49 percent of the combined company and 51 percent
is collectively owned by Solenis management and funds managed by
Clayton, Dubilier & Rice (CD&R). The new Solenis has
approximately 5,200 employees, with increased sales, service and
production capabilities across the globe.
The merger includes the Paper and Water assets of BASF's
Performance Chemicals unit, including production sites in
Bradford and Grimsby, UK; Suffolk, Virginia, USA; Altamira, Mexico; Ankleshwar, India; and Kwinana, Australia and related assets including
intellectual property. BASF's paper coating chemical business is
not part of the transaction.
"Combining our strong heritages creates the leading
customer-focused, global solutions provider for the paper and water
industries. Customers from these industries will benefit from our
joint strengths, resulting in an unparalleled and complementary
range of products and services, state-of-the-art innovations and
know-how," said John Panichella,
president and CEO, Solenis.
"Joining forces with Solenis is the right step for BASF's Paper
and Water Chemicals business to maintain sustainable growth.
Together, we will provide the broadest scope of products and
services to meet the specialty chemical needs of the global paper
and water industry," added Anup
Kothari, president of BASF's Performance Chemicals
division.
"Bringing together these two highly successful and complementary
businesses creates an even stronger global enterprise with enhanced
prospects for long-term growth and value creation," said
David Scheible, Chairman of Solenis
and Operating Advisor to CD&R.
Learn more about this combination of world-class technology and
practical innovation at www.solenis.com/MoreReadyThanEver-PR
About Solenis
Solenis is a leading global producer of
specialty chemicals for water-intensive industries, including the
pulp, paper, oil and gas, chemical processing, mining, biorefining,
power and municipal markets. As of the close, the company's product
portfolio includes a broad array of process, functional and water
treatment chemistries as well as state-of-the-art monitoring and
control systems. These technologies are used by customers to
improve operational efficiencies, enhance product quality, protect
plant assets and minimize environmental impact. Headquartered in
Wilmington, Delaware, the company
has 41 manufacturing facilities strategically located around the
globe and employs a team of approximately 5,200 professionals in
120 countries across five continents. For additional information
about Solenis, please visit www.solenis.com.
About Clayton, Dubilier & Rice
Founded in 1978,
Clayton, Dubilier & Rice is a private investment firm with a
strategy predicated on building stronger businesses. Since
inception, CD&R has managed the investment of $27 billion in 84 companies with an aggregate
transaction value of more than $125
billion. The Firm has offices in New York and London. For more information, visit
www.cdr-inc.com.
About BASF
At BASF, we create chemistry for a
sustainable future. We combine economic success with environmental
protection and social responsibility. The more than 115,000
employees in the BASF Group work on contributing to the success of
our customers in nearly all sectors and almost every country in the
world. Our portfolio is organized into four segments: Chemicals,
Performance Products, Functional Materials & Solutions and
Agricultural Solutions. BASF generated sales of more than €60
billion in 2017. BASF shares are traded on the stock exchanges in
Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information available at
www.basf.com.
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SOURCE Solenis