The transaction – which is subject to approval by Brazilian competition authorities – will include BASF’s Kollicoat coating system product business, including its “current customer business, inventory and relevant know-how” according to Colorcon.
A Colorcon spokeswoman told us the firm will not be taking on any BASF staff or facilities involved in the manufacture of the Kollicoat coating product.
In addition to the coating system, BASF’s Kollicoat range comprises polymer excipients. The German chemical firm launched the newest Kollicoat product in the range last month at industry event in Glasgow, Scotland.
BASF spokesman Andres Christian Orthofer told us firm is only selling the coating systems part of its business to Colorcon, adding that “our Kollicoat product line has been and will remain a core part of our excipients business.”
News of the coating system product sale comes a year after BASF sold the majority of its active pharmaceutical ingredients (API) business to Swiss fine chemicals firm Siegfried holding.
At the time BASF told us the divestiture will allow it to “focus its pharmaceutical business on its core expertise and unique strength in excipients and selected active pharmaceutical ingredients (APIs)."
The coating proaduct Colorcon will buy is not part of the industrial coatings business that BASF intends to sell to AkzoNobel for €475m ($529m).