BASF has announced it has signed a contract to divest its liquid masterbatch business in Clermont de l’Oise, France, to Audia International, a large global supplier of polyolefins and color masterbatches. The transaction is expected to close in mid 2014.
As a supplier of colour masterbatches, BASF says it will concentrate on its business with solid and powder masterbatches, produced in Cologne, Germany. BASF said the liquid masterbatches are a “niche business” and not part of its future focus.
For Audia, this acquisition of the liquid masterbatch business is said to be very strategic, representing an “exciting expansion in technology, markets, and geography,” which it says complements its major 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.