BASF leather business goes to Stahl

BASF has agreed to sell its leather treatment chemicals business to the Dutch firm Stahl. BASF will receive a 16% share in Stahl as part of the transaction, which includes BASF’s leather chemicals plant in L’Hospitalet, Spain. About 210 BASF staffers will transfer to Stahl, of whom about 110 are in Asia. Under the agreement, BASF will also provide significant volumes of leather chemicals to Stahl for the “mid- to long-term,” BASF says. Stahl, which has more than 1,800 employees, says the combined business will have annual sales of more than $900 million.