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[June 2006]
BASF Completes Acquisition of Engelhard Corporation
BASF AG (Ludwigshafen, Germany) announced on 12 June 2006 the successful completion of its acquisition of Engelhard Corporation (Iselin, NJ, USA)."Together with the Engelhard team we have started the integration process in which our customers continue to be the key priority," said Dr Jürgen Hambrecht, Chairman of the Board of Executive Directors of BASF AG. "Our goal is to make Engelhard an integral part of BASF to leverage both companies’ strong talent, technology and unique applications expertise. Integration teams consisting of BASF and Engelhard employees will assess the combined business needs."
Hambrecht emphasised: "Our customers will benefit from the accelerated development of products with superior performance through the combined R&D capabilities of our companies".
As a result of the transaction, Engelhard is a wholly owned subsidiary of BASF and its shares no longer trade on the New York Stock Exchange.
http://corporate.basf.com
ENDS