"Cognis’ and BASF’s know-how and range of products complement each other very well. The combination will broaden our portfolio of specialty chemicals and boost innovation for our customers ,” said Dr. Jürgen Hambrecht, Chairman of BASF’s Board of Executive Directors.
Through the purchase of Cognis, BASF will achieve a leading position in personal care ingredients, strengthen its leading position in value-added products for home care, establish a strong position in human nutrition and further strengthen its position in pharma excipients. BASF will also be able to offer customers of the Performance Chemicals and Dispersions & Pigments divisions an even more attractive portfolio. The acquisition will in particular expand BASF’s portfolio with products based on renewable raw materials.
BASF intends to fully integrate Cognis into the BASF Group. Detailed integration plans will be developed by the end of the first quarter of 2011. Completion of the structural integration is targeted for the end of 2011.
"Our highest priority is to ensure a smooth and seamless integration process while maintaining the highest standards of customer service and product quality ,” said Dr. John Feldmann, member of the Board of Executive Directors of BASF and responsible for the Performance Products segment. Most of Cognis’ businesses will be integrated into the divisions of this segment.
“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% as of 2013. The businesses acquired from Cognis will help us to achieve these goals,” explained Feldmann.