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Germany: World’s largest chemical co divests assets

 |  December 8, 2013

The world’s largest chemical company, Germany-based BASF, announced it has made an agreement to divest its PVC unit to Kaneka Belgium, the company announced late last week.

Kaneka, a subsidiary of Japan’s Kaneka Corporation, will acquire the Vinuran PVC modifier operations of BASF. While the deal remains subject to various regulatory agencies, reports say the companies expect to close the deal in the first quarter of 2014. According to BASF, its PVC modifier business is not part of the company’s core operations, and the divestiture will allow the company to renew its focus on its acrylate portfolio.

The parties did not disclose financial details of the acquisition.

Full Content: Azom.com

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