BASF has announced today that it has signed a contract to divest its liquid masterbatch business in Clermont de l’Oise, France, to Audia International, a supplier of polyolefins and colour masterbatches. The transaction is expected to close in mid-2014.
BASF is now concentrating on its operations with solid and powder masterbatches, produced in Cologne, Germany. BASF says that liquid masterbatches are a niche business and not part of its future focus.
Audia’s acquisition is a strategic one, which it hopes will boost its entry into the European market over the past seven years. The liquid masterbatch business will be run as part of Audia’s subsidiary, Uniform Color Company, a global supplier of masterbatches, with facilities in North America and Europe.
The parties have agreed not to disclose financial details of the agreement.