BASF to sell its Bleaching Clay and Mineral Adsorbents businesses
BASF announced that it has signed an agreement to sell its Bleaching Clay and Mineral Adsorbents businesses to EP Minerals. Financial details of the divestiture are not being disclosed. The transaction is expected to close in the third quarter of 2017, subject to regulatory approval and other customary closing conditions.
The Bleaching Clay and Mineral Adsorbents businesses are currently part of the Process Catalysts business unit of BASF’s global Catalysts division. The divestiture includes a production site and a clay mine in Mississippi, and the mineral rights sublease associated with a mine in Arizona. The transaction will affect approximately 70 employees.
“In the process of focusing our portfolio on strategic growth areas we are divesting the businesses to a strategic buyer, EP Minerals. This is the best course of action for the further development of the businesses and the impacted employees,” said Detlef Ruff, BASF Senior Vice President, Process Catalysts.
“We’re excited about this opportunity to acquire the Bleaching Clay and Mineral Adsorbents business from BASF,” said EP Minerals President and CEO Gregg Jones. “It’s a strategic move to strengthen our portfolio of industrial minerals and position EP Minerals for future growth and innovation.”
Other news from the department business & finance
