“Chemical Revolution: BASF sells tanning division Stahl in exchange for 16% of the shares, and 150 million Euro

Leather Chemical Division of BASF becomes part of the Stahl group forming a chemical giant to the leather industry. BASF takes comfort a minority share of 16% of Stahl and a check for 150 million euro by the financial group Wendel (majority shareholder of Stahl). The agreement was signed on March 22. Pending approval from the competent authorities the closing is scheduled for the last quarter of the year. The agreement, which includes the handover of the entire division (including the production site of L’Hospitalet, Barcelona) provides that BASF will continue in the medium-long term to provide large volumes of artificial tanning Stahl. “Combining complementary potential, BASF and Stahl – said Michael Heinz, the member of the board of executive directors of BASF in a statement – you are creating a fellow a leader in tanning chemistry with strong innovation focus.

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