BASF to Sell Mining Flocculants Business to Solenis

BASF SE, the parent company of BASF India Ltd, announced on July 17, 2024, that it has agreed to sell its flocculants business for mining applications to Solenis, a specialty chemicals producer based in Wilmington, Delaware.

This sale is part of BASF’s strategy to optimize its global portfolio and focus on its core strategic areas. The transaction is expected to be completed in the second half of 2024, pending approval from relevant competition authorities.

In India, the mining flocculants business is part of BASF India Limited's Performance Chemicals Division within the Industrial Solutions Segment. For the financial year ending March 31, 2024, this business generated net sales of approximately Rs. 27.7 crore, accounting for 0.20% of BASF India’s total sales.

The transaction is between two unrelated parties and is not considered a related-party transaction. Additionally, Regulation 37A of the SEBI Listing Regulations does not apply to this sale, as it is not a sale of an Undertaking or substantially the whole of an Undertaking. The company release stated. 

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BASF India 

BASF India, a part of the global BASF Group, has been contributing to India's progress for over 130 years. The company integrates economic success With a portfolio that includes Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions.

BASF India generated sales of approximately €2.7 billion. The BASF Group, with around 112,000 employees worldwide, achieved global sales of €87.3 billion in 2022, serving customers in nearly all sectors and countries.

Solenis 

Solenis is a leading global specialty chemical supplier and water treatment company with over 16,100 employees and 69 manufacturing facilities across 130 countries. For more than 100 years, Solenis has been solving water treatment, process improvement, and hygiene challenges for a variety of industries, including consumer, industrial, institutional, food and beverage, and pool and spa markets.

By combining advanced technologies, expert support, and a commitment to sustainability, Solenis helps customers improve operational efficiency, reduce environmental impact, and maintain water quality and hygiene.

The company has evolved through various names, such as Drew, Betz Laboratories, Hercules, Stockhausen, and Ashland Water Technologies, but its mission to solve tough challenges remains unchanged.