BASF acquires PIB business of LANXESS
BASF has agreed to purchase the polyisobutene (PIB) business of LANXESS, consisting mainly of intellectual property for a new, innovative technology to produce high molecular weight polyisobutene (HM PIB).
On behalf of BASF, LANXESS, which is headquartered in Cologne, Germany, will exclusively manufacture the new HM PIB for BASF in existing assets under a long-term toll manufacturing agreement. BASF will market the products under the product name Oppanol® N.
The parties have agreed not to disclose financial details of the agreement.
“The acquired technology provides an excellent opportunity for BASF to jointly grow together with our customers. The transaction will result in enhanced security of HM PIB supply, and it provides the basis for a long-term oriented sustainable growth with high quality products for a broad range of applications,“ said Martin Widmann, senior vice president of BASF’s global business unit Fuel and Lubricant Solutions.
“We are determined to make a smooth transition to the products manufactured according to the newly developed HM PIB technology as an important part of our Oppanol® product portfolio. We will work closely with our customers to that effect,” Widmann said.
BASF supplies a wide range of PIB with low, medium and high molecular weight.
The transaction is related to HM PIB only; other PIB offerings by BASF including medium molecular weight PIB (MM PIB) and highly reactive PIB (HR PIB) will not be affected.
BASF, which is headquartered in Ludwigshafen, Germany, has more than 75 years of experience in the manufacturing of PIB. It produces PIB in four different plants in Antwerp, Belgium and Ludwigshafen, Germany. The products are marketed worldwide under the brands of Glissopal® (low-molecular weight PIB) and Oppanol® (medium- and high-molecular weight PIB).
PIB is used in many versatile applications. Beyond other applications, Glissopal® is an essential raw material in the manufacture of fuel additives and lubricant additives. The applications for Oppanol® range from adhesives, sealants through to chewing gum base.