|FOR IMMEDIATE RELEASE||
CEO, IGM Resins, Inc.
+1 704 588 2500
Waalwijk, the Netherlands — 29 August 2016 — IGM Resins B.V., 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.”
IGM and BASF will work closely together to ensure a smooth transition.
About IGM Resins, Inc.
IGM specializes in the development, manufacture and supply of products and technical services to the global UV ink and coatings industry. IGM produces and distributes a full range of radiation curable materials including acrylate oligomers and monomers, photoinitiators, and additives from manufacturing facilities in the EU, USA, and Asia, supported by technical labs in the EU, USA, Asia, and South America to help create next generation energy curable coatings, inks and adhesives. For more information, visit: www.igmresins.com.