11/06/2012| 11:12am US/Eastern

German chemicals company BASF SE (BAS.XE) said Tuesday it is planning to sell its insulation and finishing systems subsidiary together with its facility in Marktredwitz, Germany.

MAIN FACTS:

-Financial details of the planned divestiture weren’t disclosed.

-The intended sale will include BASF Wall Systems GmbH Co. KG, which assembles exterior and interior thermal building insulation systems, as well as the facility site at Marktredwitz in Bavaria, Germany, near the Czech boarder.

-BASF Wall Systems GmbH Co. KG has approximately 190 employees and generated sales in the mid double-digit million euro range in 2011.

-The insulating materials Neopor, Styropor, Styrodur as well as insulating materials made of polyurethane will not be effected by the divestiture and will remain in BASF’s product portfolio.

 
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500 
 

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