PRZOOM - /newswire/ -
Ludwigshafen, Germany, 2015/12/09 - BASF has signed a contract to divest its subsidiary company Magenta Master Fibers s.r.l. (MMF) located in Magenta, Italy, including MMF’s wholly owned subsidiary in Shanghai, China (Magenta Master Fibers Co., Ltd), to PolyOne Corporation. DE000BASF111
BASF has signed a contract to divest its subsidiary company Magenta Master Fibers s.r.l. (MMF) located in Magenta, Italy, including MMF’s wholly owned subsidiary in Shanghai, China (Magenta Master Fibers Co., Ltd), to PolyOne Corporation, a leading global provider of specialized polymer materials, services and solutions based in Cleveland, Ohio. The transaction was closed today.
MMF is a manufacturer of masterbatch for mass dyeing of synthetic fibers. Located in Italy and China, MMF provides polyester and polyamide masterbatch as well as technical service to the global synthetic fiber industry.
As a leading supplier of color masterbatch in Europe, BASF will concentrate on its business with customized color masterbatch, produced in Cologne, Germany. The MMF masterbatch business for synthetic fibers is not part of BASF’s future focus.
About BASF‘s Dispersions & Pigments division
The Dispersions & Pigments division of BASF (dispersions-pigments.basf.com) develops, produces and markets a range of high-quality pigments, resins, additives and polymer dispersions worldwide. These raw materials are used in formulations for coatings and paints, printing and packaging products, construction chemicals, adhesives, fiber bondings, plastics, paper as well as for electronic applications such as displays. With its comprehensive product portfolio and its extensive knowledge of the industry, the Dispersions & Pigments division offers its customers innovative and sustainable solutions and helps them advance their formulations.
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 over €74 billion in 2014 and around 113,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).