BASF acquisition of Cognis completed
Chemicals giant BASF has completed its acquisition of speciality chemicals firm Cognis after announcing its intention back in June of this year.
The company says it plans to integrate Cognis into its business as soon as possible without disturbing customer business and has said it will announce detailed plans early next year.
Cognis is expected to play a large role in the Performance Products sector of the company achieving its growth targets for 2013, explained the head of the division, Dr John Feldmann.
“Cognis will make an important contribution to the growth strategy of our Performance Products segment. We aim to grow two percentage points above the relevant markets and achieve an EBITDA margin of minimum 20 per cent as of 2013. The businesses acquired from Cognis will help us to achieve these goals,” he said.
