BASF sells European starch business
BASF will sell its starch business in Europe. The contracts to this effect were signed yesterday (August 2, 2010). The buyer is Chemigate Oy, a company newly founded by former managers of the starch business in Finland. The transaction, which also includes the cationic reagent business, comprises five production plants at four sites in Finland. Eighty-four employees will transfer to the new company.