BASF and LANXESS have signed an agreement on BASF’s purchase of the polyisobutene business consisting mainly of intellectual property for a new technology to produce high molecular weight polyisobutene (HM PIB). The parties have agreed not to disclose financial details of the agreement. On behalf of BASF, LANXESS will exclusively manufacture HM PIB for BASF in existing assets under a long term toll manufacturing agreement. BASF will market the products under the product name Oppanol® N.
The transaction is related to HM PIB only; other PIB offerings by BASF including medium molecular weight PIB (MM PIB) and highly reactive PIB (HR PIB) will not be affected.
Polyisobutenes play an important role in a wide variety of applications within miscellaneous industry segments, including sealants for insulating glass, roofing membranes, adhesives in variously applications, chewing gum.