Kaneka Belgium finalizes the acquisition of BASF Acrylic-based Modifier Business

Kaneka Belgium (Westerlo, Belgium; President: Masaaki Kimura; hereinafter “Kaneka Belgium”), a subsidiary of Kaneka Corporation (Osaka, Japan; President: Mamoru Kadokura), has received unconditional approval by antitrust authorities for the acquisition of the acrylic-based modifier* business of BASF SE on 11 February, 2014. This represents an important step towards completion of the transaction. The closing date is now fixed on 31 March, 2014.
*Acrylic-based modifiers are used as impact modifiers and processing aids for PVC and engineering plastics.

Kaneka Belgium N.V. and BASF SE signed a contract for the transfer of assets on December 4th 2013. Following the acquisition; the acrylic-based modifiers are scheduled to be produced at Kaneka Belgium and/or its subsidiary, Kaneka Modifiers Deutschland GmbH (Wesseling, Germany; President: Masaaki Kimura).

Forty years since Kaneka Belgium N.V. started the modifier business, the company has a proven track record in managing highly trustful and stable business partnerships throughout the plastics industry. With the latest acquisition from BASF, following the business acquisition from Evonik in 2011, Kaneka Belgium strengthens its acrylic-based modifier business in Europe.