BASF Leather Chemicals business to become part of the Stahl Group23 March 2017
“These are exciting and challenging times for the chemical industry in terms of sustainability and innovation. We believe we can only make a real difference if we can work on a large scale within the industry”, Huub van Beijeren, CEO of Stahl, explains. “The signing of this agreement enables us to accelerate the process of creating a more transparent sustainable supply chain as we share the same vision on reducing the environmental footprint linked to our activities”.
Equally important, the synergy advantages are numerous and will lead to new market opportunities for Stahl. “By combining our forces, we will have an even stronger product portfolio with more innovative solutions enabling us to serve our global clients even better”, van Beijeren continues.
BASF is one of the world’s leading chemical companies with approximately 114,000 employees. Stahl will take over the activities of the BASF Leather Chemicals business, including a manufacturing site in Spain. This business, with approximately 210 employees, offers leather chemicals for a broad range of industries such as Automotive, Apparel & Accessories, Home Interior and Leisure & Lifestyle.
The closing is expected to be finalized in the fourth quarter of 2017 after the approval of the relevant authorities and after employee consultations. This acquisition will be fully in line with Stahl’s growth strategy and is directly linked to its sustainability goals: achieving a more transparent supply chain. The company is constantly expanding its global presence via organic growth, technology acquisitions and partnerships to serve its customers better.
The combination of the two businesses generated pro forma1 net sales of € 850 million and EBITDA of more than € 200 million (on a 2016 basis).
1 Excluding the pro forma impact of the 2016 acquisitions (Eagle Performance Coatings and Viswaat)