2018
In € million

 

Acquisitions

 

Disposals

 

Total

Subsidiaries

 

(12)

 

26

 

14

Other

 

(4)

 

 

 

(4)

Total investments

 

(16)

 

26

 

10

Property, plant and equipment/Intangible assets

 

(833)

 

42

 

(791)

Total

 

(849)

 

69

 

(781)

2017
In € million

 

Acquisitions

 

Disposals

 

Total

Subsidiaries

 

(44)

 

891

 

846

Other

 

(11)

 

 

 

(11)

Total investments

 

(55)

 

891

 

836

Property, plant and equipment/Intangible assets

 

(822)

 

75

 

(746)

Total

 

(877)

 

966

 

89

In 2018

The acquisition of subsidiaries (€ (12) million) relates to post-acquisition payments of Cytec.

The disposal of subsidiaries (€ 26 million) relates mainly to the phosphorus derivative business for € 54 million, the Soda Ash business in Egypt for € 10 million, M&A costs for Polyamides divestment for € (20) million. The balance is composed of amounts paid or received for prior years’ disposals without impact on the 2018 income statement (deferred payment for purchase of BASF shares in Solvin for € (22) million and Cross-Linkable Compound for € 4 million).

The acquisition of property, plant and equipment and intangible assets (€ (833) million) relates to various projects:

  • Corporate: investment in Material Science Application Center in Brussels (Belgium);
  • Soda Ash & Derivatives: refurbishment of a cogeneration unit in Bernburg (Germany);
  • Special Chem: new eH2O2 plant in Rosignano (Italy) and in Zhengiang (China);
  • Specialty Polymers: new production unit dedicated to Polyethersulfone (PESU) in Panoli (India);
  • Specialty Polymers: Polyvinylidene Fluoride (PVDF) capacity increase in Tavaux (France);
  • Technology Solutions: doubling of production capacity of hindered amine light stabilizers (HALS) in Willow Island (USA).

In 2018, the cash in from disposal of property, plant, and equipment relates to the sale of real estate (€ 27 million), mainly following restructuring initiatives or changes in portfolio and cash in from disposal of intangible assets related to the sale of customer lists (€ 15 million). In 2017 the cash in from disposal of property, plant, and equipment related mainly to the sale of real estate, following relocalization of our plants in Korea, restructuring initiatives, or changes in portfolio.

In 2017

The acquisition of subsidiaries (€ (44) million) related mainly to the acquisition of European Carbon Fiber GmbH (€ (16) million), Energain (€ (13) million), and post-acquisition payments relating to Cytec (€ (17) million).

The disposal of subsidiaries (€ 891 million) related mainly to the disposal of Acetow (€ 734 million), Emerging Biochemicals (€ 180 million), Cross-Linkable Compound (€ 62 million), and Formulated Resin (€ 38 million). The balance was composed mainly of amounts paid for prior years’ disposals without impact on the 2017 income statement (Inovyn (€ (79) million), BASF (€ (22) million), and Indupa (€ (19) million).

The acquisition of property, plant and equipment and intangible assets (€ (822) million) related to various projects:

  • Composite Materials: expansion of adhesive capacity in Wrexham (United Kingdom);
  • Peroxides: construction of a 60Kt H2O2 plant at Zhengiang (China);
  • Special Chem: new eH2O2 plant in Rosignano (Italy) and in Zhengiang (China);
  • Specialty Polymers: investment in Fluorelastomers and PVDF in Changshu (China);
  • Specialty Polymers: investment in Polyetheretherketone (PEEK) capacity (United States);
  • Specialty Polymers: new production unit dedicated to Polyethersulfone (PESU) in Panoli (India).