BASF acquires ultrafiltration business of Watertechnologies

Chemical company BASF has signed an agreement with the investor group of Germany-based Inge Watertechnologies to acquire the company and its ultrafiltration membrane business.

Ultrafiltration technology is a membrane process used in the treatment of drinking water, process water, wastewater and sea water.

The investor group and BASF have agreed not to disclose financial details of the deal.

The transaction, which is subject to approval by merger control authorities, is expected to close within the third quarter of 2011.