BASF divests polyvinylchloride modifier business to Kaneka

BASF SE (Ludwigshafen, Germany; www.basf.com) has signed a contract to sell its Vinuran polyvinylchloride (PVC) modifier business to Kaneka Belgium N.V., a subsidiary of Kaneka Corp. (Osaka, Japan; www.kaneka.com). The transaction comprises intangible assets and inventory. It does not include a transfer of the production assets or employees in Ludwigshafen. Subject to approval by the relevant antitrust authorities, the closing of the transaction is expected to take place during the first quarter of 2014. The parties have agreed not to disclose the purchase price or any further financial details.