BASF will own 49% of the combined company and 51% is collectively owned by Solenis management and funds managed by Clayton, Dubilier & Rice.
BASF and Solenis have completed the announced merger of the paper and water and chemicals business. The combined company will operate under the Solenis brand, serving customers in pulp, paper, oil and gas, chemical processing, mining, biorefining, power, municipal and other industrial markets. The "new Solenis" will have a staff of 5,200 and generate pro forma sales of approximately $3bn.
The merger includes the paper and water assets of BASF’s Performance Chemicals unit, including seven production sites in Australia, India, Mexico, UK and the US and related assets including intellectual property. BASF’s paper coating chemical business is not part of the transaction.
The European Commission has approved the business combination last December.
This article is part of our free coverage on the raw materials and paper chemicals market in Europe. More company news and market reports are available to our subscribers.
Want to know more about EUWID Pulp and Paper subscription models? Go check our shop or contact the sales team for more info.
