BASF to acquire resins specialist Johnson Polymer

BASF is acquiring Sturtevant, Wis.-based resin manufacturer Johnson Polymer for US$470 million, BASF has announced.
“This transaction is a further important step in strengthening BASF’s technology and innovation- driven specialty business with performance products. The deal will further improve (our) position in a profitable, fast-growing business and open up new areas for innovation,” Dr. Andreas Kreimeyer, a BASF board member, said.
The agreement, signed on May 1, is expected to close by the end of June.
BASF, a global supplier of plastics chemicals, has approximately 81,000 employees worldwide. Johnson Polymer, which posted 2005 sales of approximately US$360 million in 2005, employs 430 people and operates two production sites in the US and one in the Netherlands.