In The Face Of Economic Crisis, BASF Will Not Change Its Purchase Plan.
In a statement made by BASF in a few days ago, the company reiterated that the plan to buy Ciba company of Switzerland for 3 billion 800 million euros will not change. This is to expand the growth potential of professional chemical products.
Ciba, the world's largest manufacturer of plastic products and pigments, specializes in the production and conversion of crude oil derivatives, such as converting ethylene into pigment pigments, plastic additives and dyes.
Basf Inc chairman Hambrecht has said before that the company's future business priorities will turn to specialized chemical products that are not subject to cyclical fluctuations.
For example, Basf Inc bought the US catalyst manufacturing Engelhard company for the same 3 billion 800 million euros in 2006, and now buys the Ciba company in order to strengthen the business of plastics, outer coatings and water treatment products, and expand the field of professional chemical products.
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