IGM Resins acquires BASF global photoinitiator business

GM Resins BV, a leading global producer and supplier of radiation curable materials acquired BASF’s global photoinitiator business on August 26, 2016.

Photoinitiators are used in radiation curing formulations in various industries. Typical end use applications are coatings for furniture and flooring, printing labels, consumer goods and food packaging, and in electronics. The transaction comprises all assets of the business including technology, patents and certain trademarks, customer relationships and business related contracts, as well as the photoinitiator production site at Mortara, Italy. Both parties have agreed not to disclose financial details of the acquisition.

The deal represents a good strategic fit for IGM Resins. "The strong technical pipeline and manufacturing technology fits well with IGM’s focus on providing customers products designed for the market’s current and future needs,” said Edward Frindt, IGM’s CEO. "This includes a wide range of innovative photoinitiators to work with new, more cost-efficient curing technologies.”

"This transaction allows BASF to focus on its core resins and additives technologies in the radiation-curing markets. Furthermore BASF will continue to serve the specific needs of the electronics industry with high-performance photoinitiators,” said Dr Markus Kramer, President of BASF’s Dispersions & Pigments division.

IGM and BASF will work closely together to ensure a smooth transition.