BASF India Limited, one of the leading multinational chemical company under the parent company BASF SE, announced the complete acquisition of Performance Polyamide India Private Limited from BASF Netherland BV and BASF SE on 18th August 2020.
With successful completion of the deal, Performance Polyamide has become a wholly owned subsidiary of BASF India. The deal happened post the approval of the consideration made by the company for the investment not exceeding INR 3200 million including all the formalities and adjustments.
As per the company officials, the acquisition is aimed to strengthen its foothold in the global market as a solution provider in various domains for major industries. It would also assist it by diversifying its existing material segments and to widen the product value chain by backward integration through major raw materials. The Polyamide business of BASF comes with operational synergies along with the traditional Engineering Plastics business.