BASF SE and Solenis have signed an agreement to join forces by combining their paper wet-end and water chemicals businesses.
The goal is to create a customer-focused global solutions provider for the industry. For the paper industry, the product portfolio of the combined enterprise will cover the entire range of functional and process wet-end chemicals, solutions for the water cycle for paper mills, as well as comprehensive service capabilities.
For the water treatment industry, the customers of the joint organization will benefit from Solenis’ high-quality service capabilities and BASF’s broad water treatment chemicals platform.
The closing of the transaction is anticipated for the end of 2018 at the earliest.
BASF will hold a 49 percent share of the combined entity that will operate under the Solenis name and be headquartered in Wilmington, Delaware, US. BASF will nominate three out of seven shareholder representatives of the joint entity that will continue to be led by current president and chief executive officer (CEO) John Panichella of Solenis. 51 percent of the shares will be held by funds managed by Clayton, Dubilier & Rice.
BASF SE and Solenis have signed an agreement to join forces by combining their paper wet-end and water chemicals businesses.
The goal is to create a customer-focused global solutions provider for the industry. For the paper industry, the product portfolio of the combined enterprise will cover the entire range of functional and process wet-end chemicals, solutions for the water cycle for paper mills, as well as comprehensive service capabilities.
For the water treatment industry, the customers of the joint organization will benefit from Solenis’ high-quality service capabilities and BASF’s broad water treatment chemicals platform.
The closing of the transaction is anticipated for the end of 2018 at the earliest.
BASF will hold a 49 percent share of the combined entity that will operate under the Solenis name and be headquartered in Wilmington, Delaware, US. BASF will nominate three out of seven shareholder representatives of the joint entity that will continue to be led by current president and chief executive officer (CEO) John Panichella of Solenis. 51 percent of the shares will be held by funds managed by Clayton, Dubilier & Rice.
No comments:
Post a Comment