01.06.22
Clariant has signed definitive agreements to acquire BASF’s U.S. Attapulgite business assets for $60 million in cash, including 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.
BASF’s Attapulgite business is one of the largest attapulgite miners and producers in North America, with mining operations in Georgia and Florida and processing operations in Quincy, FL. The business produces attapulgite-based products for a wide range of applications and end-markets. BASF’s business is well recognized in the industry for its unique combination of mineral quality, mine reserve size and strategic location.
Clariant is a technology leader in the purification of edible oils and renewable fuels. The transaction will substantially increase the Business Unit’s production capacity in North America, thereby enhancing the ability to participate in the attractive North American market. Clariant offers unique technology for the purification of biodiesel, which reduces greenhouse gases in road transportation, and for the purification of pyrolysis oil, which enables the chemical recycling of plastics.
The renewable fuels market in North America, based on waste streams like used cooking oils, tall oil, tallow, animal fats and distillers corn oil, is an attractive growth market. Adsorbent clays are a crucial enabler for growth as they play a key role in removing contaminants during the pretreatment, thereby protecting the catalyst and enabling a stable and economically viable process.
“This acquisition fits very well with our growth strategy to grow through sustainability-focused innovations and bolt-on acquisitions. This acquisition will further nicely extend the footprint of our Functional Minerals business in North America and will further improve Clariant’s position in renewable fuels purification,” said Conrad Keijzer, CEO of Clariant. “Clariant is already seen as a sustainability and technology leader today and this acquisition will further improve Clariant’s position in renewable fuel purification.”
Structured as an asset deal with a cash purchase price of $60 million, 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 welcomed 75 employees.
BASF’s Attapulgite business generated sales of approximately $36 million in 2020.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. Customary closing actions, including merger notification and clearance filings as well as real estate title work are anticipated to result in a closing of the transaction in summer 2022.
BASF’s Attapulgite business is one of the largest attapulgite miners and producers in North America, with mining operations in Georgia and Florida and processing operations in Quincy, FL. The business produces attapulgite-based products for a wide range of applications and end-markets. BASF’s business is well recognized in the industry for its unique combination of mineral quality, mine reserve size and strategic location.
Clariant is a technology leader in the purification of edible oils and renewable fuels. The transaction will substantially increase the Business Unit’s production capacity in North America, thereby enhancing the ability to participate in the attractive North American market. Clariant offers unique technology for the purification of biodiesel, which reduces greenhouse gases in road transportation, and for the purification of pyrolysis oil, which enables the chemical recycling of plastics.
The renewable fuels market in North America, based on waste streams like used cooking oils, tall oil, tallow, animal fats and distillers corn oil, is an attractive growth market. Adsorbent clays are a crucial enabler for growth as they play a key role in removing contaminants during the pretreatment, thereby protecting the catalyst and enabling a stable and economically viable process.
“This acquisition fits very well with our growth strategy to grow through sustainability-focused innovations and bolt-on acquisitions. This acquisition will further nicely extend the footprint of our Functional Minerals business in North America and will further improve Clariant’s position in renewable fuels purification,” said Conrad Keijzer, CEO of Clariant. “Clariant is already seen as a sustainability and technology leader today and this acquisition will further improve Clariant’s position in renewable fuel purification.”
Structured as an asset deal with a cash purchase price of $60 million, 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 welcomed 75 employees.
BASF’s Attapulgite business generated sales of approximately $36 million in 2020.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. Customary closing actions, including merger notification and clearance filings as well as real estate title work are anticipated to result in a closing of the transaction in summer 2022.
