BASF to Sell Omega-3 Production Plant to Marine Ingredients
BASF has agreed to sell its production facility for natural fish oils, medium-concentrated omega-3s, and customized bottled fish oil in Brattvåg, Norway, to Marine Ingredients for an undisclosed sum.
As part of the deal set to close in the first quarter of 2015. BASF's 47 employees at Brattvåg will transfer to Marine Ingredients.
With the acquisition, Marine Ingredients will gain control of omega-3 production, which the leading manufacturer of omega-3 softgel and liquid formulations sold in health food stores and directly to practitioners, said is central to its business.
BASF, also among the global market leaders in omega-3s, plans to focus its activity in future on the market segment for highly concentrated omega-3 fatty acids, following the acquisitions of Equateq (now BASF Pharma Callanish) in 2012 and Pronova Biopharma in 2013.
The German chemical giant said the highly concentrated omega-3 fatty acids for consumer health, clinical nutrition and pharmaceutical products are one of the key growth areas for its Nutrition & Health division.
