Global chemicals major BASF has signed an Asset Purchase Agreement to sell its Softex business to GOVI CAST, a specialty chemicals supplier, in a move aimed at sharpening the company’s focus on higher-growth areas within its Care Chemicals portfolio.
The deal covers the Softex customer list, formulation and production know-how, and a tolling and supply arrangement designed to ensure uninterrupted supply during the transition. Physical assets are not included in the agreement.
The Softex portfolio includes calcium and ammonium stearate dispersions used primarily as anti-tack and mould-release agents in glove manufacturing. The products are also used in applications such as cement mixing and textile coatings. Production has been based at BASF Cimanggis site.
Under the agreement, GOVI CAST will acquire the customer list and assume responsibility for sales to BASF’s existing Softex customers, most of whom are located across Southeast Asia, including Malaysia and Indonesia.
To ensure continuity, BASF will continue producing Softex products at its Cimanggis facility under a tolling arrangement until GOVI CAST completes the transfer and adaptation of the formulations and production know-how at its GOVI CAST Port Klang facility plant. The process is intended to allow a smooth transition from Softex products to GOVI CAST-branded grades without disrupting supply.
“This divestment reflects BASF’s commitment to focus on strategic growth areas within Care Chemicals, while ensuring our customers experience a seamless transition,” said Parthiv Amin, Senior Vice President, Global Business Unit Industrial Formulators. “GOVI CAST’s expertise and strong presence in specialty chemicals make them an ideal partner to take this business forward.”
“We are excited to integrate Softex into our portfolio,” said Francis Himpe, Managing Director, GOVI CAST. “This acquisition strengthens our position in the glove manufacturing market and allows us to deliver even greater value to customers across Asia Pacific. Our focus will be on introducing innovations that meet evolving industry needs.”
The global glove manufacturing sector has expanded rapidly amid rising hygiene standards and healthcare demand. Southeast Asia—particularly Malaysia—accounts for roughly 65% of global glove production, a market where Softex products have supported manufacturers for decades.
