Basf Aims For Degussa Construction Chemicals

Officials from the parent company of Degussa Construction Chemicals Division, whose holdings include Cleveland-based Degussa Admixtures Inc., reported

Officials from the parent company of Degussa Construction Chemicals Division, whose holdings include Cleveland-based Degussa Admixtures Inc., reported last month that they are negotiating a sale of the business to another German giant, BASF. Degussa AG and BASF cite a joint aim to conclude the purchase agreement for the transaction shortly.

Responding to offers for the Construction Chemicals Division, whose worldwide shipments exceed $2.1 billion, the Degussa Management Board indicated that discussions would proceed solely with BASF. The latter bills itself as the world’s leading chemical company and reports global sales upwards of $45 billion. BASF lists construction among the industries it serves through its chemicals unit, to which Degussa Construction Chemicals would appear to be a downstream operation. A sale would mark the third time in 10 years that ownership of Degussa Admixtures, formerly Master Builders Inc., has changed.