BASF - The Chemical Company has agreed to sell its CONICA Sports Surfaces business together with its site in Schaffhausen, Switzerland to the Munich-based Serafin Group.
Closing of the transaction is expected by the end of the second quarter of 2013.
BASF decided to sell CONICA Sports Surfaces because it was no longer part of the group’s strategic focus. Dr Tilman Krauch, head of BASF’s Construction Chemicals division explained that they found in the Serafin Group a new owner for CONICA who aims to generate long-term profitable growth in the sports surfaces business.
According to Philipp Haindl, one of the Managing Directors of Serafin Group, the key factors for the acquisition are the excellent reputation of the CONICA brand, the team’s expertise, the production capacities and the growth opportunities in an attractive market segment. Serafin aims to use its financial and personnel resources to drive forward the future development of CONICA.
The CONICA Sports Surfaces business includes:
- development, production and marketing of flooring systems for running tracks
- sports halls
- tennis courts and playgrounds
- artificial turf solutions.
The Schaffhausen site employs about 135 employees, of which around 60 are employed in the sports surfaces business and will transfer to Serafin, which is the new owner of CONICA Sports Surfaces. The international sales team consisting of nine employees will receive an offer to continue working for CONICA.
Industrial floorings, sealants and special polyurethane solutions will continue to be produced on behalf of BASF in Schaffhausen for a period of 18 months following the completion of the transaction and subsequently will be relocated to another BASF site.
BASF has informed the Head of Schaffhausen’s Department of Economic Affairs and the Economic Development and Employment Office about the sale.