Home / Knowledge / News / Textiles / BASF to buy Ciech's TDI business part in Poland
BASF to buy Ciech's TDI business part in Poland
15
Oct '12
BASF and Ciech announced the acquisition of parts of Ciech’s global TDI (toluene diisocyanate) business by BASF. The acquisition is subject to approval by the appropriate antitrust authorities. Closing of the transaction is expected in the first quarter of 2013. Financial terms of the agreement were not disclosed.

The agreement involves parts of Ciech’s worldwide TDI business. Production facility of Ciech’s subsidiary Zachem, Poland, is not part of the transaction. Ciech and BASF will cooperate closely to facilitate an effective transition of supply agreements and support services for Ciech’s TDI customers.
 
“This acquisition underlines our strong commitment to the TDI markets in Europe, the Middle East, Africa and worldwide”, said Raimar Jahn, President of BASF’s Polyurethanes division. “We are looking forward to establishing a successful partnership with Ciech’s customers.” BASF’s strong commitment to the TDI business is also illustrated by the construction of the world’s largest single-train TDI plant in Ludwigshafen.
 
Dariusz Krawczyk, President of the Management Board of Ciech, added: “We are confident that with BASF we have found the ideal purchaser of our TDI business. Our customers will benefit from BASF’s broad knowledge and experience in the polyurethanes market and its strong global set-up.”
 
TDI is a key component for the polyurethanes industry. To a large extent it is used in the furniture segment (e.g. flexible foams for mattresses, cushions or wood coating) as well as in the automotive industry (e.g. seating cushions and interior applications).
 
BASF is a leading supplier of basic products for polyurethanes and operates TDI plants in Geismar, Louisiana; Yeosu, Korea; Caojing, China; Schwarzheide, Germany; and as of 2014 in Ludwigshafen, Germany.

BASF

Must ReadView All

Apparel/Garments | On 22nd Feb 2017

Amazon UK to create 5,000 full time jobs this year

Amazon UK said it will create more than 5,000 full time jobs this...

Textiles | On 22nd Feb 2017

Telangana CM seeks better life for handloom weavers

Chief minister of Telangana, K Chandrashekhar Rao assured handloom...

Textiles | On 21st Feb 2017

Net profit at Indorama Ventures zooms 145% in 2016

Net profit at Thailand headquartered and Aloke Lohia led Indorama...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search