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

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

Courtesy: Tintex

Textiles | On 21st Jun 2018

'Price ratio is key factor for knitted fabrics market'

The price ratio is a key factor for the global knitted fabrics market ...

Leisure sneakers lead US footwear sales: The NPD Group

Apparel/Garments | On 21st Jun 2018

Leisure sneakers lead US footwear sales: The NPD Group

Leisure sneakers dominated US footwear sales between May 2017 and...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silvia Venturini Fendi
Fendi s.r.l

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search