| Dec 16, 2003 15:00:00 | News Release issued by Ticona | |
BASF to acquire Ticona's nylon 6,6 engineering plastics business | ||
Kronberg, Germany - (CZZ: FSE; CZ: NYSE): BASF and Ticona, the technical polymers business of Celanese AG, have reached an agreement under which BASF will acquire the worldwide nylon 6,6 business of Ticona, effective December 31, 2003. Financial details of the transaction were not disclosed. In 2002, the business to be sold generated sales of around €45 million. BASF will obtain all intellectual property rights, licenses and customer lists for Ticona’s nylon 6,6 products, which are currently marketed under the CelaneseÒ brand name. BASF will not acquire any manufacturing sites, equipment or related assets as part of the transaction. For a period of time, Ticona will compound nylon 6,6 for BASF from its Bishop, Texas, and Florence, Kentucky, sites pursuant to a transitional services agreement. “As a world-leading supplier of nylon 6, BASF’s acquisition of Ticona’s nylon 6,6 business will complement and enhance the range of product solutions we can offer customers,” said Raimar Jahn, President of BASF’s Performance Polymers division. “We are dedicated to being the supplier of choice for engineering plastic customers around the world.” “The sale of the 6,6 nylon business is a further step in Celanese’s overall strategy of focusing on those products which hold a leading global market position,” said Lyndon Cole, member of the Celanese AG management board and President of Ticona. “Ticona does not have the critical mass in nylon 6,6 to achieve our strategic objectives over the long term.” Young & Partners of New York assisted in the transaction. BASF contacts United States David A Elliott Phone: +01 (734) 324-6148 Email: elliotd1@basf.com Europe Thomas Moeller / Jennifer Moore-Braun Phone: +49 621 60 20829 Email: jennifer.moore-braun@basf-ag.de Celanese AG (www.celanese.com) is a global chemicals company with leading positions in its key products and world class process technology. The Celanese portfolio consists of five main businesses: Acetyl Products, Chemical Intermediates, Acetate Products, Technical Polymers Ticona and Performance Products. In 2002, Celanese generated sales of around € 4.3 billion and had 10,700 employees. The company has 24 production plants and six research centers in 10 countries mainly in North America, Europe and Asia. Celanese AG shares are listed on the Frankfurt stock exchange (stock exchange symbol CZZ) and on the New York Stock Exchange (symbol CZ). BASF is the world’s leading chemical company, offering its customers a range of high-performance products, including chemicals, plastics, performance products, agricultural products, fine chemicals as well as crude oil and natural gas. Its distinctive approach to integration, known in German as “Verbund,” is its strength. It enables BASF to achieve cost leadership and gives the company a competitive advantage. BASF conducts its business in accordance with the principles of sustainable development. In 2002, BASF had sales of €32 billion (circa $34 billion) and over 89,000 employees worldwide. Further information on BASF is available on the Internet at www.basf.com. Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company’s filings with the Securities and Exchange Commission, copies of which are available from the Company. | ||
Tuesday, December 16, 2003
BASF acquires Celanese's Ticona Nylon 6,6 Business
Friday, July 18, 2003
Oxiteno (Ultrapar) acquires Berci Group (Canamex)
PETROCHEMICALS: Ultrapar to enter into Mexican market
from investNews
SÃO PAULO, 7/18/03 - Ultrapar Participações has signed a contract worth US$11 million to buy the chemical division of the Mexican group Berci (Canamex). With the purchase, Ultrapar hope to increase their presence in the specialist chemicals sector in Mexico and create a production and distribution network for the United States. Canamex has 2 facilities in Mexico, with a production capacity of 52.8 thousand tones per year. Financial volume in 2002 was US$19 million. (Darren Links - Gazeta Mercantil/ Gustavo Viana)
Monday, February 24, 2003
Avecia acquires Synthon's Fine Chemicals Business
Avecia Acquires Carbohydrates-Based Chiral Technologies From Synthon Chiragenics
24 February 2003 00:00 [Source: ICB Americas]
This week, at the Informex trade show in New Orleans, La., Avecia will announce its acquisition of the pharmaceutical fine chemicals business of Synthon Chiragenics Corp., a Monmouth Junction, N.J., developer of carbohydrates-based chiral technologies. Terms of the deal have not been disclosed."This acquisition further extends Avecia's leadership in chiral technologies, adding new capabilities and technologies that complement our existing chiral tool kit, and broadening the range of added-value options for our customers," says Peter Jack-son, Avecia vice president, pharmaceutical products.
Avecia gains access to a variety of C-3, C-4 and C-5 chiral entities, among them the key chiral building block (S)-3-hydroxy-gamma-butyrolactone. Avecia also receives new business op-portunities that range from preclinical to launched compounds, and from chiral building blocks to the down-stream synthesis of active pharmaceutical ingredients, says a company spokesper-son. Customers include ma-jor, emerging and start-up pharma companies in North America, Europe and Japan.
Synthon retains rights to the technology for applications in drug discovery and development, including the synthesis of intermediates and active pharmaceutical ingredients, up to and including preclinical development.
Avecia will continue strategic deve-lopment work with Michigan State University, where the intellectual property behind the chiral building blocks was developed by Rawle Hollingsworth, founder of Synthon Chiragenics and a professor at the university.
"Avecia is well placed to bring to market the full technical and commercial value of this portfolio," says Synthon Chiragenics' CEO Scott Coleridge. "For Synthon, the transaction will release key resources that will accelerate our primary mission in drug discovery and development."
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