Source: Lanxess to Buy BASF Leather Chemicals Units

BASF's Leather and Textile Chemicals Businesses up for Sale since 2009

06.08.2010 -

Chemicals company Lanxess is to buy leather chemicals businesses from BASF, people familiar with the matter said on Thursday.

"An agreement has been reached," a person familiar with the process said. The transaction could be announced in the coming days.

A Lanxess spokesman declined to comment. A spokesman for BASF said he declined to comment saying the company never comments on market rumors. In 2009 BASF put the leather and textile chemicals businesses up for sale. Taken together the businesses had annual revenues of around €400 million in 2007.

Part of this business is a division specialized in chemicals for leather and fur processing.