BASF to buy Solvay’s polyamide business

Chemicals giant BASF has agreed to buy Belgian materials specialist Solvay’s integrated polyamide business in a deal that values the segment at €1.6 billion (£1.4 billion).

The deal covers Solvay’s ‘upstream’ polymer and intermediates production, through to finished materials processing and engineering plastics. Around 2400 Solvay employees will transfer to BASF across sites in Europe, Asia and the Americas. Solvay will retain some parts of the business in Latin America.