BASF signed a contract to divest its subsidiary company Magenta Master Fibers s.r.l. (MMF) located in Magenta, Italy, including MMF’s wholly owned subsidiary in Shanghai, China (Magenta Master Fibers Co., Ltd.), to PolyOne Corporation.
MMF is a manufacturer of masterbatch for mass dyeing of synthetic fibers. Located in Italy and China, MMF provides polyester and polyamide masterbatch as well as technical service to the global synthetic fiber industry.
As a leading supplier of color masterbatch in Europe, BASF will concentrate on its business with customized color masterbatch, produced in Cologne, Germany. The MMF masterbatch business for synthetic fibers is not part of BASF’s future focus.