BASF and MLM Acquisition, LLC, Charlotte, NC, have signed an agreement for MLM to purchase BASF's Basofil heat and flame resistant fiber business. (Acquisitions, Expansions).

BASF and MLM Acquisition, LLC, Charlotte, NC, have signed an agreement for MLM to purchase BASF's Basofil heat and flame resistant fiber business. Terms of the agreement were not disclosed. The purchase includes the intellectual property, inventories, machinery and equipment related to the Basofil fiber manufacturing operation, located in Enka, NC. BASF Coatings AG, Munster, Germany, is taking over the entire automotive refinish business of the Australian paint manufacturer Wattyl Ltd. In future, the company will operate in the Australian market under the name BASF Coatings Pty. Ltd. The BASF Fina Petrochemicals Ltd. Partnership launched the world's largest naphtha steam cracker in Port Arthur, TX, culminating a $1 billion U.S. investment by its German and French parent companies.