BASF and Lanxess have signed an agreement on BASF’s purchase of the polyisobutene business consisting mainly of intellectual property for a new, innovative technology to produce high molecular weight polyisobutene (HM PIB).

According to the agreement, on behalf of BASF, Lanxess will exclusively manufacture the new HM PIB for BASF in existing assets under a long term toll manufacturing agreement. BASF will market the products under the product name Oppanol N, according to a company press release.

Martin Widmann, senior vice president of BASF’s global business unit, Fuel and Lubricant Solutions said, “The acquired technology provides an excellent opportunity for BASF to jointly grow together with our customers. The transaction will result in enhanced security of HM PIB supply, and it provides the basis for a long term oriented sustainable growth with high quality products for a broad range of applications. We are determined to make a smooth transition to the products manufactured according to the newly developed HM PIB technology as an important part of our Oppanol product portfolio.”

BASF offers the broadest range of polyisobutenes worldwide with different molecular weights. Polyisobutenes play an important role in a wide variety of applications within miscellaneous industry segments.

The core business of Lanxess is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals.

The global business unit Fuel and Lubricant Solutions is a leading supplier to the automotive and mineral oil industries worldwide and part of BASF’s Performance Chemicals division. The company offers fuel performance packages, refinery additives, polyisobutenes, engine coolants, brake fluids, lubricant additives, compounded lubricants, synthetic base stocks, and components for metalworking fluids. (GK)