BASF Sells Special Effects Films Business to RMS Packaging

BASF has sold its special effects films business, marketed by BASF under the trade name Aurora, to RMS Packaging Inc. of Peekskill, NY. The divestiture includes the sale of manufacturing equipment currently housed in Peekskill. As part of the agreement, BASF will transfer 12 employees to RMS Packaging Inc. Financial details were not disclosed.

“The sale of the special effect films business is part of BASF’s ongoing
portfolio review, and represents another step in our process to realign our
business to ensure long term profitable growth,” said Uwe Liebelt, group
vice president, dispersions and pigments, for BASF in North America. “BASF believes that the long term interests of this business and its employees will be better served as part of the RMS Packaging Inc. organization.”

BASF will retain ownership of the Peekskill facility where it also manufactures pigments, and will lease the building in which the
special effects films are manufactured to RMS Packaging Inc., which will
continue to produce the products in Peekskill.

“BASF remains committed to the dispersions and pigments business on a
global scale. We will continue to manufacture and sell our portfolio of
organic and inorganic pigments, effect pigments, pigments for heat
management, pigment preparations and dyes, resins, light stabilizers and
process chemicals that address a broad range of applications,” said
Liebelt.

Special effect films are used in the manufacture of packaging, labels,
displays, gift wrap and household goods. A range of tinted and un-tinted
special effect films are available in a variety of polymers and thicknesses
and with a broad range of thermal, mechanical and chemical properties. The decorative and glitter iridescent films can be used alone or with other
films, graphics, background colors or embossing to achieve eye-catching
effects.

RMS Packaging is a new company dedicated to investing in and
serving the specialty films industry. With its first platform acquisition
of BASF’s Aurora iridescent films business, the company seeks to be a
leading high-quality supplier of specialty iridescent films on a global
basis.