Following the approval of all relevant authorities, BASF has closed the previously announced transfer of its global leather chemicals business to the Stahl Group, with Stahl taking over the activities as of September 30, 2017.
The company is a leader in process chemicals for leather products, performance coatings and polymers. The BASF will continue to manufacture and supply leather chemical products to Stahl under mid- to long-term supply agreements.
The transaction includes the leather chemicals production site in L'Hospitalet, Spain. Around 210 positions globally have transferred to the Stahl Group. BASF now holds a 16% minority stake in the Stahl Group.-PR