LUWIGSHAFEN, Germany—BASF Corp. is set to acquire parts of Polish chemical group Ciech S.A.'s global toluene diisocyanate business, excluding the production facility of Ciech's subsidiary Zachem in Poland.
A Ciech spokesman told UTI that BASF would purchase the sales and marketing activities, including research and development functions.
Some 20 employees will transfer to BASF from Ciech, when the transaction closes in the first quarter of 2013, subject to approvals. Financial terms of the agreement were not disclosed.
In a joint statement, Ciech and BASF said they will cooperate closely to facilitate an effective transition of supply agreements and support services for Ciech's TDI customers.
"This acquisition underlines our strong commitment to the TDI markets in Europe, the Middle East, Africa and worldwide," said Raimar Jahn, president of BASF's polyurethanes division.