Schenectady, NY, USA, Feb. 15 - Fortitech, Inc. and BASF SE have announced that the two companies dissolved their joint venture in the human nutrition premix marketplace and Fortitech will buy all BASF shares. The agreement extends to all joint ventures throughout Europe, South America and Asia. Fortitech is a leading provider of custom nutrient premix systems worldwide. Custom-designed nutrient premixes contain a wide variety of nutrients associated with health and wellness and are primarily used to fortify food, beverage and pharmaceutical products.
“The divestment of BASF in the human nutrition premix joint venture is part of BASF’s strategy to operate efficiently and flexibly in the food and feed markets and, thus, to position BASF Nutrition Ingredients as a sustainable food ingredient supplier to the food industry,” said Dr. Martin B. Jager, Group Vice President of Nutrition Ingredients for BASF.
“As our customer base in Europe, South America and Asia continues to grow, we needed to adjust how we do business in those markets,” said Walter Borisenok, president and CEO, Fortitech, Inc. “The best way to continue to deliver top-notch service that our customers have come to expect from us is to focus on our core strength as a manufacturer of custom nutrient premix systems.”
BASF will continue to supply Fortitech with a broad range of nutri-tional ingredients, but will discontinue its position within the human nutrition premix business. BASF will continue to provide Fortitech with equal access to top-grade nutritional ingredients as all other customers. Fortitech is using BASFs top-grade nutritional ingredients in a variety of custom nutrient blends. Fortitech custom nutrient premixes feature a variety of ingredients and are used worldwide in a range of products from functional drinks to nutrient bars to infant formulas.
About Fortitech, Inc.
Founded in 1986, Fortitech, Inc. is the world leader in the development of custom nutrient premixes for the food, beverage and pharmaceutical industries, integrating functional ingredients from a comprehensive selection of vitamins, minerals, amino acids, nucleotides and nutraceuticals. Fortitech is ISO 9001:2000 and FPA certified and meets kosher and Halal standards. Headquartered in Schenectady, New York, the company has a global network of manufacturing and distribution facilities, throughout Europe, Asia Pacific, South America, Mexico and the United States.
About BASF’s Nutrition Ingredients unit
BASF’s Nutrition Ingredients business unit is a leading supplier of food ingredients and feed additives. The product portfolio for human nutrition includes vitamins, carotenoids, omega-3s and others. BASF offers products of outstanding quality produced with modern, state-of-the-art technologies. BASF also combines technical services and scientific expertise to meet the highest demands and to deliver the best value to the industry. Premium formulations are a key strength that has made BASF a leader in the industry.
About BASF
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products, agricultural products and fine chemicals to crude oil and natural gas. As a reliable partner to virtually all industries, BASF’s high-value products and intelligent system solutions help its customers to be more successful. BASF develops new technologies and uses them to meet the challenges of the future and open up additional market opportunities. It combines economic success with environmental protection and social responsibility, thus contributing to a better future. BASF has approximately 95,000 employees and posted sales of €52.6 billion in 2006. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).