tunnelling-journal (1)
tunnelling-journal (1)
  • Home
  • Print
    • Subscribe
    • Tunnelling Journal
    • Breakthrough
    • ITA Activity Report
    • A&NZ Journal
    • WTC Preview
    • Media Kit
  • Digital
    • Newsletter
    • E-Shots
    • Products Page
    • Media Kit
  • Conferences
    • BTS Conference and Exhibition
    • Cutting Edge 2021
  • Buyer’s Guide
  • Events Diary
  • Jobs
  • About Us
  • Contact Us
  • Podcast

Home > BASF to sell Construction Chemicals division

BASF to sell Construction Chemicals division

Tris Thomas

Written by Tris Thomas on 30/10/2018 in News

Tagged:

BASF has confirmed it is looking to sell its Construction Chemicals unit, or find a merger partner for it, with an acceptable deal hoping to be completed in 2019.

A spokesperson for BASF told TJ: “As part of our active portfolio management, we are continuously evaluating if businesses could unfold their potential even more in a different set up, e.g. in a joint venture or outside of BASF.

“Therefore, we decided to evaluate strategic options for our Construction Chemicals division to ensure a successful business development in the long-term. Furthermore, the market currently offers attractive consolidation opportunities.

“The outcome of assessing strategic options is open. This means, we consider a merger with a strong partner as well as a divestiture.We strive to sign an agreement in the course of 2019.”

Following the release of the company’s third quarter results, BASF Chief Executive Martin Brudermuellertold journalists, “Neither are we satisfied with the (group) business development nor with our share price development.”

BASF’s finance chief Hans-Ulrich Engel was also quoted as saying, “The unit has a very low degree of integration into the rest of the BASF network and it does not fully meet our expectations regarding profitability.”

More soon…

Comments:

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Digital Edition

More Like This

27/10/2020

Podcast #4: Use of standards and other common practices to manage personal/professional legal risks

Podcast #4: Use of standards and other common practices to manage personal/professional legal risks

In this “standards” themed episode, Professor Dix draws on almost 30 years global legal experience as a disaster investigator, lawyer…

07/10/2020

COWI wins innovative tunnel examination contract

COWI wins innovative tunnel examination contract

COWI has won a contract worth approximately £500,000 – to share with its subcontractors – as part of a project funded…

30/09/2020

Mumbai’s Water Tunnel Project TBM passes FAT

Mumbai’s Water Tunnel Project TBM passes FAT

A 3.2m diameter TERRATEC Open TBM for use on the Municipal Corporation of Greater Mumbai’s (MCGM) Amar Mahal II Tunnel…

  • Contact Us
  • Media Kit
  • Magazine Archive

Newsletter

The latest from the Tunneling Journal direct to your inbox.

Social



Enquiries

TGS Media Ltd
The Old Library
Webster House
Dudley Road
Tunbridge Wells
TN1 1LE
United Kingdom

© Tunnelling Journal. All Rights Reserved. Privacy Policy / Terms & Conditions. Admin

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkRead more