Germany: BASF, the multinational chemical company, has announced plans to divest its subsidiary BASF Wall Systems GmbH & Co. KG, together with its factory in Marktredwitz. Currently, BASF Wall Systems employees 190 workers.
BASF Wall Systems is a 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. In addition, the company offers renovation and restoration systems for historical buildings.
"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 that we can make use of. A new owner will be better able to drive the business," said Dr Tilman Krauch, president of BASF's Construction Chemicals division.
