Amsterdam, 18 December 2018, 07:00 –
BASF has notified Avantium of its exit from their Synvina joint venture, effective 15 January 2019.
Avantium continues to disagree with BASF’s interpretation of the joint venture agreement. Avantium
and BASF are still discussing the terms and conditions of an exit.
Upon an exit of BASF, Avantium will acquire BASF’s equity interest in the joint venture and Synvina
will continue its operations as a fully Avantium-owned company. In addition, the YXY technology,
know-how and people will revert to Avantium. This will allow Avantium to pursue alternative routes
for commercializing the technology.