Clariant to purchase BASF’s U.S. Attapulgite business assets
AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR
- Acquisition of BASF’s U.S. Attapulgite business assets for USD 60 million in cash
- Strengthens Clariant’s technology leading position in the purification of edible oils and renewable fuels
- BASF’s Attapulgite business assets to extend North American footprint
- In line with Clariant’s bolt-on acquisition strategy and sustainability focus
MUTTENZ, DECEMBER 28, 2021
Clariant, a focused, sustainable and innovative specialty chemical company, today announces that it has signed definitive agreements to acquire BASF’s U.S. Attapulgite business assets for USD 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, Florida. 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, Chief Executive Officer 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 USD 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 is pleased to welcome 75 highly qualified, dedicated employees. BASF’s Attapulgite business generated sales of approximately USD 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.
| CORPORATE MEDIA RELATIONS
Jochen Dubiel
Anne Maier
Ellese Golder
| INVESTOR RELATIONS
Andreas Schwarzwälder
Maria Ivek
Alexander Kamb |
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This media release contains certain statements that are neither reported financial results nor other historical information. This document also includes forward-looking statements. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors that are beyond Clariant’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators and other risk factors such as: the timing and strength of new product offerings; pricing strategies of competitors; the Company’s ability to continue to receive adequate products from its vendors on acceptable terms, or at all, and to continue to obtain sufficient financing to meet its liquidity needs; and changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, on a global, regional or national basis. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. Clariant does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of these materials.
www.clariant.com
Clariant is a focused and innovative specialty chemical company based in Muttenz near Basel/Switzerland. On 31 December 2020, the company employed a total workforce of 13 235. In the financial year 2020, Clariant recorded sales of CHF 3.860 billion for its continuing businesses. The company reports in three business areas: Care Chemicals, Catalysis and Natural Resources. Clariant’s corporate strategy is led by the overarching purpose of ‘Greater chemistry – between people and planet’ and reflects the importance of connecting customer focus, innovation, sustainability, and people. | |
Attachments
- Clariant Media Release purchase BASF US Attapulgite business assets_20211228_EN
- Clariant Media Release purchase BASF US Attapulgite business assets_20211228_DE
