ALTA Performance Materials announced it has signed an agreement with BASF to acquire its Palatal business in Chile. The company said the agreement marks an important step in its strategy to strengthen its presence in South America, bringing together installed production capacity, technical expertise and customer relationships to support the composites sector.

What the Palatal Business Covers

The Palatal business supplies vinyl ester and unsaturated polyester resins to customers across the construction, mining, aquaculture, transportation and industrial sectors. It operates from a manufacturing site in Concón, Chile, and brings an established customer base and a team with extensive knowledge of the South American market.

Expanded Regional Footprint

Following completion, the acquisition will establish ALTA Performance Materials' second production operation in Latin America. The company said this expands its regional manufacturing footprint and strengthens its ability to support customers through local supply, technical expertise and a broader portfolio of performance materials.

The agreement also aligns with BASF's strategy to focus its portfolio on core chemical businesses. ALTA Performance Materials said Palatal operations will maintain complete normality during the transition.

Closing Conditions

The final closing of the transaction is subject to customary closing conditions for this type of transaction, including applicable regulatory approvals. Until completion, Palatal will remain part of BASF, with both businesses continuing to operate independently in accordance with the transaction agreements.

Executive Comment

Andrew Miller, Chief Executive Officer of ALTA Performance Materials, said: "South America is an important market for ALTA Performance Materials and this agreement is a significant step in strengthening our presence in the region. Palatal is an established business, with a respected regional brand and products, valuable technical expertise and people who understand their customers and the markets they serve. Bringing that experience together with our capabilities creates an opportunity to offer customers more, both in the materials we supply and the support we provide. We're looking forward to working with the Palatal team and building on what they've achieved."

Ronaldo Freitas Junior, M&A Transaction Lead at BASF Chile, said: "BASF's strategy is to focus its portfolio on its core chemical businesses, and we believe ALTA Performance Materials is the right partner to support Palatal's continued growth. Following the signing of this agreement, our priority is to ensure business continuity and a smooth transition."

About the Companies

ALTA Performance Materials is a global performance materials company headquartered in London, England. It manufactures unsaturated polyester resins, vinyl ester resins and gelcoats used in composite applications across industries including building and construction, infrastructure, marine, transportation and industrial markets.

BASF describes its ambition as becoming the preferred chemical company to enable its customers' green transformation, combining economic success with environmental protection and social responsibility. The BASF Group has around 95,000 employees, and its portfolio comprises the Chemicals, Materials, Industrial Solutions and Nutrition & Care segments as core businesses, with standalone businesses grouped in the Surface Technologies and Agricultural Solutions segments. BASF generated sales of around €60 billion in 2025, and its shares are traded on the Frankfurt stock exchange (BAS) and as American Depositary Receipts (BASFY) in the U.S.