BASF to Sell PVC Modifiers Business to Kaneka

BASF has said it will sell its acrylate-based PVC modifiers business to Kaneka Belgium, European arm of Japan's Kaneka Corporation for an undisclosed sum. The deal, set to close in Q1 2014 pending antitrust approval, includes comprises intangible assets and inventory but not production facilities at Ludwigshafen, Germany. 

The world's largest chemical producer said the modifiers, used in the construction sector, and sold under the Vinuran trademark, are not a core business. The divestment will allow it to focus on growing its acrylate-based dispersions portfolio. With the acquisition, Kaneka will be able to expand its services to the PVC processing industry.