BASF Global Photoinitiators to IGM Resins
BASF has sold its global photoinitiator business to IGM Resins based in the Netherlands to focus on resin and additive technologies for radiation-curing markets. Financial terms were not disclosed. The German chemical giant said its high-performance photoinitiators dedicated to specific needs of electronics customers are not part of the divestment, as the electronics industry is one of its strategic focus areas.
Business assets including technology, patents and certain trademarks, customer relationships and business-related contracts as well as BASF’s photoinitiator production site in Mortara, Italy, are to be part of the deal, and all employees will transfer to IGM shortly after consultations with local employee representatives are concluded. Some 120 employees are affected globally.
“This transaction allows BASF to focus on its core resins and additives technologies in the radiation-curing markets,” said Markus Kramer, president of the Dispersions & Pigments division, while the same time catering to the specific needs of the electronics industry with high-performance photoinitiators.
Photoinitiators are used in radiation-curing formulations in various industries, with typical end-user applications in coatings for furniture and flooring as well as inks for printing and packaging.
