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                  Kaneka to acquire acrylic-based modifier business from BASF

                  Kaneka Corp. announced Dec. 6 that it will acquire the acrylic-based modifier business of BASF SE of Germany.

                  With this acquisition from BASF, and its acquisition of the acrylic-based plastics additives and plastisol business of Germany’s Evonik Industries AG in 2011, the Osaka-based chemical company said it strengthens its acrylic-based modifier business in Europe.

                  Kaneka's subsidiary Kaneka Belgium N.V. signed a contract to transfer BASF’s assets on Dec. 4. The asset transfer contract covers intangible assets and inventory related to the acrylic-based modifier business, but there will be no transfer of production facilities or personnel.

                  Kaneka plans to manufacture its European acrylic-based modifiers at its Belgium subsidiary or its German subsidiary Kaneka Modifiers Deutschland GmbH.

                  Kaneka said it will continue to advance its global expansion plans, and further strengthen its acrylic-based modifier business.

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