Chitinor acquires Chitosan business operations of BASF

Marine biopolymers manufacturer and supplier Chitinor has entered into a formal agreement with BASF to acquire BASFs marine biopolymers chitosan business operations.

According to the Norway-based firm, the new agreement aims to develop business to expand its biopolymer product ranges and business-to-business operations.

The firm said it will acquire BASF’s chitosan production facilities in Tromsø, Norway, inventories, patents, Chitopharm trademark, product and application technologies.

Chitinor said it will also acquire the global customer portfolio for all chitosan product ranges, that comprises functional cosmetic ingredients and Chitopharm pharmaceutical ingredients with respect to the Drug Master Files.

Seagarden CEO Thorleif Thormodsen said with the acquisition of BASFs chitosan business operations, the firm is significantly heading its product and customer portfolio towards marine biopolymer business area.

"The inclusion of BASFs production facilities in Tromsø is a strategic and synergistic fit to our existing biopolymer operations in Troms, Northern Norway," said Thormodsen.

The firm’s transaction is expected to be formally completed by August 2012, while the terms and conditions were not disclosed.

Chitinor is a Norway-based producer and supplier of marine biopolymers based on shells from North-Atlantic cold-water shrimp, and is fully owned subsidiary of Seagarden , Haugesund, Norway.

BASF is a Germany-based chemical company, whose portfolio includes chemicals, plastics, performance products and crop protection products, oil and gas.