Clariant Completes Purchase of BASF's US Attapulgite Business
November 01 2022 - 1:35AM
Dow Jones News
By Joshua Kirby
Clariant AG has completed the acquisition of attapulgite
business assets in the U.S. from German peer BASF SE, extending its
presence in North America, the company said late Monday.
In a deal signed at the end of last year, the Swiss chemicals
company agreed to pay BASF $60 million in cash for the mining
rights, a processing facility and inventory located in the states
of Florida and Georgia.
Clariant will also provide BASF with attapulgite products, which
are used in various industrial processes including the production
of renewable fuels, the company said.
The acquisition will be financially beneficial and boosts
Claimant's move away from fossil fuels, Chief Executive Conrad
Keijzer said, as well as bolstering the company's presence in the
strategically important North America region.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
November 01, 2022 02:20 ET (06:20 GMT)
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