Kaneka Belgium finalises acquisition of BASF modifier business

KANEKA BELGIUM, a subsidiary of Japan’s Kaneka Corporation, has received unconditional approval by antitrust authorities for the acquisition of the acrylic-based modifier business of BASF SE on 11 February, 2014. This represents an important step towards completion of the transaction.  The closing date is now fixed on 31 March, 2014.

Kaneka Belgium N.V. and BASF SE signed a contract for the transfer of assets on 4 December 2013. Following the acquisition; the acrylic-based modifiers are scheduled to be produced at Kaneka Belgium and/or its subsidiary, Kaneka Modifiers Deutschland GmbH.

Forty years since Kaneka Belgium N.V. started the modifier business, the company has a proven track record in managing highly trustful and stable business partnerships throughout the plastics industry. With the latest acquisition from BASF, following the business acquisition from Evonik in 2011, Kaneka Belgium strengthens its acrylic-based modifier business in Europe.