BASF has signed a contract with ROCKWOOL to sell BASF Wall Systems GmbH & Co. KG. The transaction comprises the German wall systems subsidiary including the Marktredwitz, Germany site. Currently, approximately 200 employees are working for the company who will be transferred to the new owner. The purchase is subject to approval by the relevant authorities and legal closing of the transaction is expected by the end of 2013.
BASF Wall Systems GmbH & Co. KG is a successful, medium-sized supplier of insulation and finishing systems in the German market. The company's main field of business is systems for the exterior and interior thermal insulation of buildings that are sold under the Heck brand. In addition, the company offers renovation and restoration systems for historical buildings under the Rajasil brand. In 2012 the company generated sales in the mid double-digit million euro range.
"Our Wall Systems business in Germany posted significant growth over the last few years. Nevertheless, there are only limited synergies with other BASF fields of activity," said Tilman Krauch, president of BASF's Construction Chemicals division.
"BASF Wall Systems GmbH is a strong and well managed business which will fit well into the ROCKWOOL business. The acquisition enables us to put further weight behind our facade strategy and to get a significant foothold in the important German market for exterior insulation and finishing systems," said Henrik Frank Nielsen, managing director of the ROCKWOOL Group's Europe division. "In the future, we will be able to offer our customers more complete solutions consisting of insulation plus all the other necessary elements of a total facade system," Nielsen added.
BASF Wall Systems GmbH & Co. KG assembles individual components to create approved insulation and finishing systems. This involves purchasing most of the components such as the materials for the insulation layer of the system. Hence, BASF Wall Systems GmbH & Co. KG is not part of the insulating materials business of BASF. The system components that are produced by BASF Wall Systems GmbH & Co. KG itself include in particular adhesive mortar and renders.
The insulating materials Neopor, Styropor, Styrodur as well as insulating materials made of polyurethane are not affected by the planned divestiture. They remain part of the BASF portfolio that contribute to the construction of energy-efficient buildings.
