- The transaction includes the production facility at BASF Schwarzheide site, products, IP, contracts, and trademark rights.
- Around 40 employees will be affected by the change.
- Completion is expected by March 31, 2024, pending regulatory approval.
- Neopolen\u00ae is an expanded polypropylene (EPP) used in automotive and HVAC applications.
Transaction Details
BASF has entered into a binding agreement with Knauf Industries GmbH to sell its Neopolen® business. The transaction includes the production facility at the BASF Schwarzheide site, products, intellectual property, customer and supplier contracts, and trademark rights. Approximately 40 employees at the location will be affected by this change. The transaction is expected to be completed by March 31, 2024, pending necessary approvals from relevant competition authorities.
Neopolen® Applications
Neopolen® is an expanded polypropylene (EPP) used to create lightweight components for various applications, including the automotive industry and heating and air conditioning systems. The particle foam is commonly found in heat pumps and vehicles.
Strategic Fit
Knauf Industries sees the acquisition as a strategic fit that will expand its portfolio of foams for various industries. The company looks forward to integrating the technical expertise and experienced employees from BASF’s EPP business into its operations.
Employee Impact
BASF emphasized the importance of securing jobs at the Neopolen® plant and maintaining synergies at the Schwarzheide location. The company is optimistic about the collaboration with Knauf Industries and the future of the Neopolen® business under new ownership.
