BASF to sell China process catalysts site to Sud-Chemie

BASF has signed a definitive agreement to sell its catalysts manufacturing facility in Nanjing, China, to Sud-Chemie AG, a worldwide leading specialty chemical company for catalysts and adsorbents headquartered in Munich, Germany. The facility is independent from BASF's main Verbund site in Nanjing. Both companies have agreed not to disclose financial details of the transaction. The facility produces more than 30 different types of syngas catalysts, including products for manufacturing ammonia and methanol. A transition plan for the approximately 400 employees working at the process catalyst site is being developed together with Sud-Chemie. Despite the sale of the Nanjing catalyst site, BASF remains committed to being the global leader in the process catalysts industry and the preferred catalysts supplier for its customers. "This catalysts site did not represent a strong fit with BASF's other operations in China. We therefore determined that our best strategy was to sell the site as part of BASF's ongoing efficiency and restructuring programs.' said Wilfried Seyfert, Group Vice President, Process Catalysts and Technologies. www.basf.comAir Jordan VII 7 Shoes