ISLAMABAD: Following the approval of all relevant authorities, BASF has closed the previously announced transfer of its global leather chemicals business to the Stahl Group, with Stahl taking over the activities as of September 30, 2017.
The company is a leader in process chemicals for leather products, performance coatings and polymers. BASF will continue to manufacture and supply leather chemical products to Stahl under mid- to long-term supply agreements.
The transaction includes the leather chemicals production site in L’Hospitalet, Spain. Around 210 positions globally have transferred to the Stahl Group. BASF now holds a 16% minority stake in the Stahl Group. BASF has been present in Pakistan for more than four decades. With production in Karachi, BASF offers innovative solutions for key local business sectors. BASF maintains offices in Karachi, Lahore, Kasur, Sialkot, and Islamabad.
BASF also supports education and community development projects in Pakistan. In 2016, BASF posted sales of approximately €110 million to customers in Pakistan and had 74 employees in Pakistan. NNI