BASF Sells Marine Biopolymers Business to Seagarden

BASF and the Norwegian company Seagarden signed a contract to transfer the Chitosan marine biopolymers business. Chitosan marine biopolymers are used in personal care products and as pharmaceutical ingredients. The transaction is expected to be formally completed by August 2012.

The divestment of the Chitosan business from former Cognis results from the portfolio optimization following the acquisition of Cognis by BASF in 2010. The Chitosan business including the production site in Tromsoe, Norway, will be owned by the Norwegian specialist for natural seafood ingredients, marine bioactives and biopolymers, Seagarden through its subsidiary Chitinor. The customers have been informed accordingly and conditions have been fixed to ensure supply reliability through the transition.