History (1996): BASF Magnetics Sold to Kohap, not Raks

Relations between Germans and Turks are often complex and troubled.

First, BASF AG (Ludwigshafen, Germany) affirmed without a doubt that its subsidiary BASF Magnetics GmbH had been sold to the Turkish firm Raks.

Following labor protests in Germany, however, BASF has altered its stance and announced a new acquirer, the Korean company Kohap, which will take over the magnetic operations on January 1, 1997.

In the meantime, the US operations of BASF have been closed and restructured as 2 separate distributors.

Founded over 30 years ago, the Kohap group counts 5,000 employees and has projected sales of DM7.3 billion for 1996. One of its important business activities is the production of chemical products.

This article is an abstract of news published on the former paper version of Computer Data Storage Newsletter on issue 107, published on December 1996.