German chemicals and materials giant BASF officially parted ways with its kaolin minerals business on September 30 after it met clearance conditions and closed the sale of the operation to US-based performance minerals firm KaMin.
Four production sites, mines, reserves, and mills in Georgia are included in the deal. BASF intends to retain ownership and continue to run its co-located refinery catalysts operations.
440 workers are currently employed by the kaolin minerals business in North America, Europe, and Asisa. The business brought in sales of about €171 million last year.
“The combination of these two businesses will create a global leader with significant scale, technical capabilities, and talent that will deliver enhanced value to our customers, distributors, and brand owners worldwide,” said Mike W. Nelson, president and chief executive officer of KaMin, in a company release. “We are excited to welcome approximately 440 new employees to the KaMin team. Their expertise will enhance our already strong organization and further differentiate us in the industrial minerals sector.”
KaMin is owned by IMin Partners. Kaolin clay has a wide range of applications, including paper fillings and coatings, ceramics, paint flattening agents, and cosmetics.