BASF has agreed to sell its Neopolen® business to Knauf Industries GmbH. Neopolen® is an expanded polypropylene used in lightweight components for the automotive industry and heating and air conditioning applications. The sale includes the production facility, products, intellectual property, customer and supplier contracts, and trademark rights. The transaction is expected to be completed by March 31, 2024, pending necessary approvals. BASF aims to secure jobs and maintain synergies at the Schwarzheide location. Knauf Industries plans to expand its foam portfolio and supply customers with high-quality Neopolen®.
Ludwigshafen and Lohmar, Germany – BASF has entered into a binding agreement with Knauf Industries GmbH to sell BASF’s Neopolen® business. Neopolen® is an expanded polypropylene (EPP) and makes it possible to create lightweight components, e.g. B. for the automotive industry and for heating and air conditioning applications: The particle foam can be found in heat pumps as well as in vehicles. The transaction includes, among other things, the production facility at the BASF Schwarzheide site, the products, the intellectual property, customer and supplier contracts as well as the trademark rights. Around 40 people at the location will be affected by the change. Subject to any necessary approvals from the relevant competition authorities, the transaction is expected to be completed by March 31, 2024.
“In Knauf Industries we have found an excellent partner who will strategically continue the Neopolen® business,” said Mia Pettersson, head of the Global Business Unit Specialty Polymers at BASF. “The future of the EPP business can be determined through a sale to a company that "The Neopolen® business will be positioned to realize its full potential under the umbrella of Knauf Industries, a leader in the foam sector, providing synergies with other foams and forward integration in molding production."
“The Schwarzheide location is an attractive location with an integrated infrastructure and committed employees with great experience and a lot of know-how – especially in our Neopolen® plant,” said Anne Francken,Commercial Managing Director and Labor Director of BASF Schwarzheide GmbH. “It was important to us to secure the jobs in the Neopolen® plant in the long term and to maintain synergies at the location. We are very much looking forward to working with Knauf Industries at our location.”
“The acquisition of BASF’s EPP business expands our broad portfolio of foams for various industries with technical expertise and experienced employees and fits perfectly into our growth concept. We at Knauf Industries look forward to supplying our customers with high-quality Neopolen®,” emphasizes Dirk Bauer, Head of Management at Knauf Industries. “We look forward to new colleagues and working together at Knauf!”