BASF has reached an agreement to divest its American manufacturing site to Clariant.
BASF has recently announced that it has reached an agreement to divest its manufacturing facility in Quincy (Florida, U.S.A.) and the associated attapulgite business unit to Clariant for a purchase price of $60 million.
The mining site employs almost 75 workers and manufactures clay-based mineral products used in a number of industrial applications. The company’s attapulgite business unit generated around $36 million of revenues in 2020 only.
BASF acquired the facility as part of the Engelhard acquisition in 2006. Until now, the site has been operated by the Dispersions & Resins division of the company. After an in-depth review, BASF determined that the future of the Quincy site and the attapulgite business would be best secured by a divestiture to a company with more experience and more expertise in mining.
“BASF divests the site in Quincy and at the same time enters into a long-term supply agreement for attapulgite with Clariant, that will allow us to continue to support and grow with our customers in the paints, coatings, and construction markets which are core to the success of our business,” stated Denise Hartmann, the Senior Vice President of BASF’s Dispersions & Resins business line in North America.
The transaction is expected to be concluded during the summer of 2022, after the approval of the relevant competition authorities.