Stahl Group acquires BASF Leather Chemicals business
Stahl takes over all activities of BASF Leather Chemicals business, including around 210 positions and a production site in Spain. The move is intended to build a stronger product portfolio for Stahl, increase innovation power and bring more transparency to the supply chain.
“The chemical industry is changing at a rapid pace,” Huub van Beijeren, CEO of Stahl, said. “To stay ahead of the game, we need a certain size to invest in the two key topics in our industry: next-generation innovations and sustainability. This acquisition enables us to respond even better to these challenges.”
Michael Costello, director sustainability, adds: “Being a larger company also accelerates the process towards a more transparent supply chain as we now have more influence to push through initiatives like the elimination of restricted substances, the reduction of greenhouse gases and the use of natural raw materials.”
BASF has innovative solutions complementing Stahl’s portfolio such as a complete range of products to make high-performance waterproof leather and new polymeric retanning agents. In addition, BASF has a strong range of beamhouse products.
Anup Kothari, president performance chemicals at BASF: “As part of Stahl Group, BASF Leather Chemicals will be well positioned for the future. With a focus on innovation and sustainability, our customers will benefit from the combined expertise along the entire leather-making value chain.”
BASF is one of the world’s leading chemical companies with approximately 114,000 employees. BASF Leather Chemicals offers leather chemicals for a broad range of industries such as automotive, apparel and accessories, home interior, and leisure and lifestyle.
With this acquisition, Stahl will have a total combined sales of between €870 and €890 million and an EBITDA between €200 and €210 million (estimated pro forma 2017). BASF received 16% of the equity of Stahl, which means the company stays closely involved and it ensures continuity of its activities in the leather chemicals industry.