Basf to acquire Solvay’s global polyamide business

Basf and Solvay have signed an agreement related to the sale of Solvay’s integrated polyamide business to Basf. The purchase price on a cash and debt-free basis would be 1.6 billion euros. Solvay and Basf aim to close the transaction in the third quarter of 2018, after customary regulatory approvals have been obtained and the formal consent of a joint venture partner has been received.

The acquisition would complement Basf’s engineering plastics portfolio and expand the company’s position as a solution provider for the transportation, construction, industrial applications and consumer industries. Regionally, the transaction would enhance access to key growth markets in Asia and South America. At the same time, the purchase would strengthen Basf’s polyamide 6.6 value chain through increased polymerization capacities and the backward integration into the key raw material ADN (adipodinitrile).

For the full year 2016, net sales of the business to be purchased from Solvay amounted to 1,315 million euros. It has approximately 2,400 employees globally, thereof approximately 1,300 in France. Worldwide, it operates 12 production sites, 4 R&D locations and 10 technical support centres. The business would be integrated into Basf’s Performance Materials and Monomers divisions.