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Clariant To Buy BASF’s U.S. Attapulgite Assets For $60 Mln In Cash – Quick Facts

(RTTNews) – Clariant AG (CLN), a Swiss specialty chemicals company, Tuesday announced that it has signed definitive agreements to acquire BASF Group’s (BFA.L, BASFY.PK) U.S. Attapulgite business assets for $60 million in cash. The deal includes the signing of a long-term supply agreement for attapulgite-based products to BASF.

The acquisition is subject to customary closing conditions and is expected to close in summer 2022.

The transaction will accrete to the Natural Resource’s EBITDA margin profile and will support Clariant on its path towards its recently announced 2025 targets.

BASF’s Attapulgite business is a major attapulgite miner and producer in North America, with mining operations in Georgia and Florida and processing operations in Quincy, Florida. The business produces attapulgite-based products for a wide range of applications and end-markets. Attapulgite business generated sales of approximately $36 million in 2020.

The transaction includes the transfer of land & mining rights, the processing facility, and inventories, which will be integrated into Clariant’s Functional Minerals Business Unit.

Clariant expects the acquisition to substantially increase the unit’s production capacity in North America and extend the footprint of Functional Minerals business.

Conrad Keijzer, Chief Executive Officer of Clariant, said, “This acquisition fits very well with our growth strategy to grow through sustainability-focused innovations and bolt-on acquisitions.”

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