BASF Sells Special Effects Films Business
January 6, 2010
BASF has sold its special effects films business, marketed by BASF under the trade name Aurora®, to RMS Packaging Inc. of Peekskill, NY.
FLORHAM PARK, NJ - BASF has sold its special effects films business, marketed by BASF under the trade name Aurora®, to RMS Packaging Inc. of Peekskill, NY.
The divestiture of this product line includes the sale of manufacturing equipment currently housed in Peekskill. As part of the agreement, BASF will transfer 12 employees to RMS Packaging Inc.
BASF will retain ownership of the Peekskill facility, where the company also manufactures pigments, and will lease the building where the special effects films are manufactured to RMS Packaging Inc., which will continue to produce the products in Peekskill.
RMS Packaging is a newly formed company dedicated to investing in and serving the specialty films industry. With its first platform acquisition of BASF’s Aurora iridescent films business, the company seeks to be a leading high-quality supplier of specialty iridescent films on a global basis.