BASF and DuPont Safety and Construction ("DuPont") today announced that the two parties have signed an agreement that BASF will sell its ultrafiltration membrane business to DuPont. The scope of the divestiture includes the shares of German Grid GmbH, the international sales team responsible for related businesses, the business headquarters and production base in Greifenberg, Germany, and the relevant intellectual property rights currently owned by BASF Europe. The parties did not disclose financial details of the transaction.
Anup Kothari, President of BASF's Performance Chemicals Business Unit, said: "The 滢 team has performed very well and has continuously optimized the ultrafiltration membrane technology and has become a leader in the field of water purification. Unfortunately, this business has not produced sufficient synergy with BASF "I believe that after strategic buyer DuPont acquired the ultrafiltration membrane business, it will tap its strong potential, create more value, and help it to a higher level."
"As a global leader in innovative water treatment solutions, we are always looking for solutions to help our customers solve water challenges around the world. This ultrafiltration membrane technology is complemented by Grid." A team of experts will further expand our product portfolio and enhance our ability to create customized integrated solutions for drinking water, industrial and wastewater treatment applications worldwide. "
The transaction is subject to review and approval by the relevant departments and is expected to be completed by the end of 2019.