German chemicals and materials firm BASF inked an agreement to sell its attapulgite business and a related mining and manufacturing facility in Quincy, FL to specialty chemicals firm Clariant, a recent company release revealed. The facility produces clay-based mineral products for industrial applications.
The location was acquired by BASF in 2006 from Engelhard. About 75 workers currently staff the facility.
“BASF divests the site in Quincy and at the same time enter 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,” Denise Hartmann, senior vice president of BASF’s Dispersions and Resins business in North America, said in a statement.
A decision to divest the Quincy site was made after an in-depth review by the company determined that the best owner for the attapulgite business is a company with a experience in the mining industry. The business bought in sales of $36 million in 2020.
The parties expect the sale to close by this summer after the transaction is cleared by antitrust regulators.
Powder & Bulk Solids reported this week that Clariant closed the sale of its Pigments business to a consortium of SK Capital Partners and Heubach Group. The firm called the close of the deal “a final milestone” in the transformation of its portfolio.