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Business
BASF Will Sell Starch Business
by Marc S. Reisch
August 30, 2010
| A version of this story appeared in
Volume 88, Issue 35
BASF has signed an agreement to sell its European starch business, including a cationic reagent division, to Chemigate, a Finland-based company founded by former managers of the starch business. The new owners will get five plants at four Finnish sites that employ 84 people. BASF says it decided to sell the business, which it acquired as part of its 2009 purchase of Ciba, because it has few synergies with its existing paper chemicals operation. BASF sold a starch-based fixative business to Chemigate in June.
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