BASF to sell Meyco Equipment business to Atlas Copco  

BASF SE (Ludwigshafen, Germany; www.basf.com) has signed a contract with Atlas Copco to sell its Meyco Equipment business providing concrete spraying machines to the tunneling and mining industries. The machinery manufacturer, which is based in Stockholm, Sweden, will continue operations at the only production site of Meyco Equipment in Winterthur, Switzerland. Currently, about 40 employees work in the Meyco Equipment business at the Winterthur site and the sales and service office in Hermsdorf, Germany. All employees will be transferred to the new owner. The business achieved sales of about €20 million in 2011. Both parties have agreed to not disclose financial details of the transaction. The purchase is subject to approval by the relevant authorities and legal closing of the transaction is expected by the end of the first quarter of 2013. In BASF, Meyco Equipment is part of the Construction Chemicals division’s global underground construction activities providing mainly chemical solutions for tunneling and mining. Chemicals optimizing the properties of sprayed concrete strongly contribute to the efficiency of the spraying process and the quality of its final results. However, the business of engineering, assembling and…