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BASF announces divestiture of one of its production sites to Clariant

 Last Update: 2023-01-23
 Source: Internet
 Author: User

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On December 28, BASF announced that it had reached an agreement to divest its Quincy, Florida production site and related attapulgite business to Clariant for $60 million
.
The Quincy Mining facility employs approximately 75 people and manufactures clay mineral products for a variety of industrial applications
.

BASF's attapulgite business generated sales of around $36 million in 2020
.
The transaction is expected to close in summer 2022, subject to approval by the relevant competition authorities
.

BASF acquired Engelhard in 2006 and is operated by BASF's Dispersants and Resins division
.
Based on in-depth research, they believe that divesting the production base and attapulgite business and handing it over to a company with experience and expertise in mining is the best decision for its future
.

"BASF divested this land in Quincy and entered into a long-term supply agreement with Clariant for attapulgite, which will allow us to continue to support and grow our customers in the paints, coatings and construction markets, which is our At the heart of business success,
” said Dennis Hartman, Senior Vice President, Dispersions and Resins North America, BASF
.

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