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Chemical Week Magazine :: Business & Finance :: Europe/Mideast
BASF to Acquire Sabic’s Stake in German PBT Joint Venture
1:20 PM MST | November 20, 2007 | Kerri Walsh
BASF says it has signed an agreement to buy Sabic Innovative Plastics’ share in the companies’ polybutylene terephthalate (PBT) resin joint venture at Schwarzheide, Germany. Sabic will transfer its shares to BASF on December 31, pending regulatory approval, BASF says. Financial terms were not disclosed. The jv produces 100,000 m.t./year of PBT at Schwarzheide based on dimethyl terephthalate feedstock. PBT is an engineering plastic used mainly by the automotive, electrical, and electronics industries. BASF says it expects “unabated strong...
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