Monday, February 18, 2008

BASF mulls interest in acquiring US chemicals group Albemarle

Germany's BASF may be interested in buying US chemicals group Albemarle's lucrative refinery business for US$4.9 bln. Albemarle, which also focuses on polymer additives and fine chemicals, posted net profit of US$230 mln on net sales of US$2.3 bln last year. BASF has sold weak performing assets and trimmed highly cyclical businesses. It spent about €7 bln in 2006 to buy US catalyst maker Engelhard, the construction chemicals business of Degussa and US resin maker Johnson Polymer.

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