OR WAIT null SECS
BASF announces that it will sell its custom synthesis business and parts of its API business to focus its expertise on pharmaceutical excipients.
BASF announced on May 7, 2015 that it would sell its custom synthesis business and parts of its APIs business to Siegfried Holding to focus on pharmaceutical excipients. BASF’s API business includes ephedrine, pseudoephedrine, and caffeine. BASF’s remaining APIs-ibuprofen, omega-3 fatty acids, and polyethylenglycol-will remain part of its portfolio.
In addition to the custom synthesis business and select APIs that Siegfried will acquire through the transaction, it will also acquire approximately 850 employee positions, as well as production sites in Minden, Germany; Evionnaz, Switzerland; and Saint-Vulbas, France. According to a press release, the transaction value equals approximately €270 million (US$304 million).
“BASF’s highly skilled team and its competitive plants for active pharmaceutical ingredients and custom synthesis will give the new owner a strong market position and will create additional value. This step is in line with BASF’s strategy of actively managing its portfolio and it will further sharpen the focus of the Performance Products segment on growth and high margin core businesses,” said Michael Heinz, member of the board of executive directors, BASF SE, and responsible for the performance products segment, which includes the nutrition & health division, in a press release.