7 April 2017
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DETAILS
BASF announced today
that it has signed an agreement to sell
its Bleaching Clay and Mineral Adsorbents businesses
to EP Minerals,
a worldwide leader in industrial 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.
Detlef Ruff,
BASF Senior Vice President, Process Catalysts
“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,”
Gregg Jones
EP Minerals President and CEO
“We’re excited about this opportunity to acquire
the Bleaching Clay and Mineral Adsorbents business
from BASF,”
“It’s a strategic move to strengthen
our portfolio of industrial minerals and
position EP Minerals for future growth and innovation.”
EP Minerals Media Contact:
Julie Brown
Tel.: (775) 276-2780
Email: julie.brown@epminerals.com
BASF Media Contact:
Cesar F. Garcia
Tel.: (732) 205-7650
Email: cesar.f.garcia@basf.com
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