Stahl has signed an agreement to amass BASF leather Chemicals assets, a branch of BASF Performance Chemicals Division.
Under the deal, BASF can receive 16 PF of the equity of Stahl and €150m in money as thought for this dealing.
Following this acquisition, Stahl can takeover all activities of BASF leather Chemicals business, which has a producing site in spain and nearly 210 staff.
Stahl chief operating officer Huub van Beijeren said: “These are exciting and difficult times for the industry in terms of property and innovation. we have a tendency to believe we are able to solely create a true distinction if we are able to work on a large-scale among the business.
“The language of this agreement allows USA to accelerate the method of making a a lot of clear property offer chain as we have a tendency to share a similar vision on reducing the environmental footprint connected to our activities.”
The acquisition is predicted to strengthen Stahl chemical business and open new market opportunities for the corporate.
Beijeren added: “By combining our forces, we are going to have an excellent stronger product portfolio with a lot of innovative solutions enabling USA to serve our international purchasers even higher.”
BASF leather chemical business offers type of chemicals to automotive, attire and Accessories, home interior and way industries.
Last year, BASF’s leather chemicals business generated sales of around €200m.
The acquisition is predicted to shut within the half-moon of this year, subject to relevant authority approval and worker consultations.
After the completion of this deal, Wendel will continue to remain the dominant shareholder of Stahl with 63% interest.
The remaining stake of the company lies with Clariant (19%) and other minority shareholders.