BASF Corp., Florham Park, N.J., plans to acquire the nylon, PBT, and acetal compounds business of Lati USA Inc., Summerville, S.C.
BASF Corp., Florham Park, N.J., plans to acquire the nylon, PBT, and acetal compounds business of Lati USA Inc., Summerville, S.C. No manufacturing sites, equipment, or employees are included in the deal. Lati will supply the materials to BASF for an unspecified period. The deal follows Lati’s decision to close its U.S. compounding plant at the end of 2005. Lati USA president Patrick Townes said slow growth in the U.S. and overcapacity in Europe prompted the move. Lati will continue to distribute products from its Italian parent in North America. It will focus here on high-value-added compounds of PP, PC, ABS, PC/ABS, PPO, and other engineering resins. The deal is BASF’s third acquisition in engineering plastics since 2003, when it bought Honeywell’s nylon and PBT business, as well as Ticona’s nylon 66.