PRZOOM - /newswire/ -
Ludwigshafen, Germany, 2014/11/21 - BASF has signed a definitive agreement to sell its manufacturing facility for natural fish oils, medium-concentrated omega-3s, and customized bottled fish oil in Brattvåg, Norway, to Marine Ingredients - Marine-Ingredients.com / BASF.com. DE000BASF111
BASF has signed a definitive agreement to sell its manufacturing facility for natural fish oils, medium-concentrated omega-3s, and customized bottled fish oil in Brattvåg, Norway, to Marine Ingredients, a leading manufacturer of quality marine-based ingredients and customized products. Both parties agreed not to disclose financial details of the transaction, which is expected to be closed in Q1, 2015.
As part of the agreement, the 47 employees currently working in Brattvåg will transfer from BASF to Marine Ingredients. With the acquisition, Marine Ingredients will gain control of omega-3 production, which is central to its business, thus expanding its ability to serve customers with tailor-made omega-3 products.
BASF, a global market leader in omega-3s, focuses its activities on the market segment for highly concentrated omega-3 fatty acids, following the acquisitions of Equateq (now BASF Pharma Callanish) in 2012 and of Pronova Biopharma in 2013. Highly concentrated omega-3 fatty acids for consumer health, clinical nutrition and pharmaceutical products are one of the key growth areas for BASF’s Nutrition & Health division.
Thanks to increased awareness of its health benefits, omega-3 has become an increasingly important segment of the dietary supplement, functional food and pharmaceuticals market. Several thousand academic and clinical studies have investigated the potential health benefits of omega-3 fatty acids. Most of these studies identified omega-3 as beneficial for human health and highlighted its cardiovascular benefits.
About Marine Ingredients
Marine Ingredients (marine-ingredients.com) has been in the omega-3 business since 1984 and is a leading producer of quality omega-3 softgel and liquid formulations for brands serving health food stores, practitioners, direct response, the non-prescription medical market, direct selling and the mass market. Marine Ingredients partners with quality conscious brands to develop and craft unique products with meaningful points-of-difference. We are a fully vertically integrated company offering our customers scientific and technical support and deep market knowledge that spans more than 30 years.
At BASF (basf.com), we create chemistry and have been doing so for 150 years. Our portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. As the world’s leading chemical company, we combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of about €74 billion in 2013 and over 112,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).
Press Contact: Bruce A. Miller, Jr. - Executive Vice President Marine Ingredients
E: bruce[.]marine-ingredients.com - P: +1 570-897-8900