Both companies have agreed not to disclose the transaction price or other financial details. The transaction, which is subject to antitrust approval, is expected to close in July 2007.
Wibarco, located in Ibbenbüren in northern
‘The newly acquired production site is an excellent fit for our growth strategy in chemicals,’ said Khodayar Alambeigi, President of HCI’s Administrative Board. ‘This acquisition and the simultaneous expansion of Hansa Group’s surfactants business will result in a backward integration in our value chain. The existing LAB plant and the planned construction of a sulphation plant in Ibbenbüren will strengthen our market position in surfactants.’
Wibarco is part of BASF’s Performance Chemicals division, which produces and markets a broad range of high-value chemicals for use in a variety of industries. In 2006, the Performance Chemicals division posted sales of €3.3bn.