PresseBox
Pressemitteilung BoxID: 334829 (BASF Personal Care and Nutrition GmbH)
  • BASF Personal Care and Nutrition GmbH
  • Rheinpromenade 1
  • 40789 Monheim am Rhein
  • http://www.monheim.basf.de
  • Ansprechpartner
  • Susanne Sengel
  • +49 (2173) 4995-220

Cognis sells UV acrylates business to IGM Resins

(PresseBox) (Monheim, ) Global specialty chemicals supplier Cognis has signed an agreement that it intends to sell its UV acrylates business to IGM Resins B.V., based in Waalwijk, The Netherlands. The UV acrylates business is part of Cognis' Functional Products strategic business unit. The sale is expected to be formally completed by June 2010.

The UV acrylates business manufactures and sells monomers and oligomers for UV applications marketed under the Photomer brand name. The sale of the UV acrylates business includes the Photomer trademarks, intellectual property, inventory, and the Charlotte manufacturing site in the US. The manufacturing employees at this site will be transferred to the new owner, as well as several business related employees in the US, France and Asia. The sale is in line with Cognis' strategy to focus on its core businesses and product groups supporting the wellness and sustainability trends.

"We firmly believe that we have found a growing and entrepreneurial player in the global UV acrylates business that is in the position to develop the business successfully and enabling a more comprehensive product offering for the customers," says Paul Allen, Executive Vice President Cognis Functional Products. "We will work closely together with IGM Resins to ensure a smooth transition of the business."

John Huiberts, CEO of IGM Resins comments: "The acquisition of the Photomer UV acrylates business complements and strengthens IGM Resins position as a fully integrated leading supplier of raw materials to the radiation curing industry globally and is a significant boost for our business. The Photomer business has a strong market position globally and is a highly respected brand, and it is IGM Resins' aim to further develop and strengthen that position."

About IGM Resins

Founded in 1999 IGM Resins is a global specialty chemicals company focusing on UV radiation curing markets. Today IGM Resins has offices and production facilities in several European countries, the US, South America and China. Strong customer focus, flexibility and transparent relationships with partners and customers have allowed IGM to rapidly develop its business. IGM Resins' strategy is to expand its portfolio, services, production, technical support and product development in support of UV radiation curing markets globally.

BASF Personal Care and Nutrition GmbH

Cognis is a worldwide supplier of innovative specialty chemicals and nutritional ingredients, with a particular focus on the areas of wellness and sustainability. The company employs about 5,600 people, and it operates production sites and service centers in 30 countries. Cognis has dedicated its activities to a high level of sustainability and provides value adding solutions and products based on renewable raw materials. The company serves the food, nutrition and healthcare markets, and the cosmetics, detergents and cleaners industries. Another main focus is on products for a number of other industries, such as coatings and inks, lubricants, as well as agriculture and mining.

Cognis is owned by private equity funds advised by Permira, GS Capital Partners, and SV Life Sciences. In 2009, Cognis recorded sales of about 2.6 billion euros and an Adjusted EBITDA (operating result) of 364 million euros.