BASF, the world’s largest chemical company, settles in Basel
Tuesday, 16.09.2008

BASF, the world’s largest chemical company, settles in Basel

The German chemical company BASF announced yesterday that it plans to acquire the Basel speciality chemicals company Ciba for 6.1 billion francs.

After the acquisition of Ciba, the company aims to locate the global headquarters of one its divisions in Basel. The transaction is set to be completed in March 2009, after which work will start on integration.

BASF sees this acquisition as offering growth opportunities especially in the fields of water treatment, electronics and also mining and oil products. “The combination of Ciba and BASF will lead to profitable growth for the benefit of everyone involved”, Jürgen Hambrecht, CEO of BASF, said yesterday at a media conference.

 

The Baden Aniline and Soda Factory, as it was originally known, was founded in 1865 and today employs more than 95,000 people. In Ludwigshafen, Southern Germany, BASF operates the world’s largest contiguous chemical site.

 

For further information, go to http://corporate.basf.com/en/presse/mitteilungen/pm.htm?pmid=3229&id=V00-_bS*WCy3Fbcp0Hi&id=HfatKCxzRbcp.Ws

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