11.18.16
BASF has entered into an agreement to sell its Inorganic Specialties business to Edgewater Capital Partners LP, Cleveland, OH. Inorganic Specialties includes the Evans City, PA production site and the Specialty Alcoholates, Boranes and Alkali Metals product lines which are produced at the site. The transaction is expected to be completed in the first quarter 2017, subject to regulatory approval and other customary closing conditions. Financial terms of the transaction are not being disclosed. About 80 employees will remain at the Evans City site and join Edgewater upon the closing.
“BASF will continue to meet all of its obligations to customers, suppliers and employees through the transition of the business to Edgewater,” said Heidi Alderman, SVP of BASF’s Intermediates business in North America.
“The business’ broad portfolio of products critical to chemical synthesis, depth and tradition in research and development, strong commitment to environmental, health and safety systems, and the unique capabilities of the site make it the global leader in reagent technology,” said Robert Girton, principal, Edgewater Capital.
“BASF will continue to meet all of its obligations to customers, suppliers and employees through the transition of the business to Edgewater,” said Heidi Alderman, SVP of BASF’s Intermediates business in North America.
“The business’ broad portfolio of products critical to chemical synthesis, depth and tradition in research and development, strong commitment to environmental, health and safety systems, and the unique capabilities of the site make it the global leader in reagent technology,” said Robert Girton, principal, Edgewater Capital.