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Solenis - BASF - Merger - Press Release (Solenis) PDF

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160 views2 pages

Solenis - BASF - Merger - Press Release (Solenis) PDF

Uploaded by

Bharat Heda
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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News Release

FOR IMMEDIATE RELEASE


January 31, 2019

Solenis and BASF Complete Merger of Paper and Water Chemicals


Businesses

The combined company will operate under the Solenis name as a global specialty
chemical company focused on paper and industrial water technologies.

WILMINGTON, Delaware – Following the approval of all relevant authorities, BASF and
Solenis have completed the previously announced merger of BASF’s wet-end Paper and
Water Chemicals business with Solenis. With pro forma sales of approximately U.S. $3
billion, the combined company will operate under the Solenis brand and is positioned to
provide expanded chemical offerings and cost-effective solutions for customers in pulp,
paper, oil and gas, chemical processing, mining, biorefining, power, municipal and other
industrial markets.

BASF will own 49 percent of the combined company and 51 percent is collectively
owned by Solenis management and funds managed by Clayton, Dubilier & Rice
(CD&R). The new Solenis has approximately 5,200 employees, with increased sales,
service and production capabilities across the globe.

The merger includes the Paper and Water assets of BASF’s Performance Chemicals
unit, including production sites in Bradford and Grimsby, UK; Suffolk, Virginia, USA;
Altamira, Mexico; Ankleshwar, India; and Kwinana, Australia and related assets
including intellectual property. BASF’s paper coating chemical business is not part of the
transaction.

“Combining our strong heritages creates the leading customer-focused, global solutions
provider for the paper and water industries. Customers from these industries will benefit
from our joint strengths, resulting in an unparalleled and complementary range of
products and services, state-of-the-art innovations and know-how,” said John Panichella,
president and CEO, Solenis.

“Joining forces with Solenis is the right step for BASF’s Paper and Water Chemicals
business to maintain sustainable growth. Together, we will provide the broadest scope of
products and services to meet the specialty chemical needs of the global paper and
water industry,” added Anup Kothari, president of BASF’s Performance Chemicals
division.
"Bringing together these two highly successful and complementary businesses creates
an even stronger global enterprise with enhanced prospects for long-term growth and
value creation," said David Scheible, Chairman of Solenis and Operating Advisor to
CD&R.

Learn more about our unbeatable combination of world-class technology and practical
innovation: www.Solenis.com/MoreReadyThanEver

About Solenis
Solenis is a leading global producer of specialty chemicals for water-intensive industries,
including the pulp, paper, oil and gas, chemical processing, mining, biorefining, power
and municipal markets. As of the close, the company’s product portfolio includes a broad
array of process, functional and water treatment chemistries as well as state-of-the-art
monitoring and control systems. These technologies are used by customers to improve
operational efficiencies, enhance product quality, protect plant assets and minimize
environmental impact. Headquartered in Wilmington, Delaware, the company has 41
manufacturing facilities strategically located around the globe and employs a team of
approximately 5,200 professionals in 120 countries across five continents. For additional
information about Solenis, please visit www.solenis.com.

About Clayton, Dubilier & Rice


Founded in 1978, Clayton, Dubilier & Rice is a private investment firm with a strategy
predicated on building stronger businesses. Since inception, CD&R has managed the
investment of $27 billion in 84 companies with an aggregate transaction value of more
than $125 billion. The Firm has offices in New York and London. For more information,
visit www.cdr-inc.com.

About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success
with environmental protection and social responsibility. The more than 115,000
employees in the BASF Group work on contributing to the success of our customers in
nearly all sectors and almost every country in the world. Our portfolio is organized into
four segments: Chemicals, Performance Products, Functional Materials & Solutions and
Agricultural Solutions. BASF generated sales of more than €60 billion in 2017. BASF
shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich
(BAS). Further information available at www.basf.com.

###

FOR FURTHER INFORMATION:


Media Relations
Catherine (Katy) Abernathy
Tel: +1 904 256 0333
[email protected]

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