American chemical company, BASF has acquired Cognis Holding GmbH from Cognis Holding Luxembourg controlled by Permira Funds, GS Capital Partners and SV Life Sciences.
“Cognis’ and BASF’s know-how and range of products complement each other very well. The combination will broaden our portfolio of specialty chemicals and boost innovation for our customers”, says Dr Jürgen Hambrecht, Chairman, BASF’s Board of Executive Directors.
Through the purchase of Cognis, BASF aims tol achieve a leading position in personal care ingredients, strengthen its leading position in value-added products for home care, establish a strong position in human nutrition and further strengthen its position in pharma excipients. The acquisition will in particular expand BASF’s portfolio with products based on renewable raw materials. The completion of the structural integration is targeted for the end of 2011.
Posted on: 17.12.2010
Source: www.woldpressonline.com
