PRZOOM - /newswire/ -
Ludwigshafen, Germany, 2015/06/08 - BASF has signed a contract to sell its global paper hydrous kaolin (PHK) business to Imerys, a leader in mineral-based specialty solutions for industry, based in Paris, France - BASF.com. DE000BASF111
• BASF to focus on kaolin for industrial applications;
• Transaction includes a production site in Wilkinson County, Georgia, United States;
• BASF will toll for Imerys during a short transition period post-closing to ensure continued supply for customers.
In September 2014, BASF announced its plan to evaluate strategic options for its PHK business.
The divestiture is subject to approval by the relevant merger control authorities. Closing of the transaction is expected to take place during the third quarter of 2015. The parties have agreed not to disclose the financial details of the transaction.
Imerys will purchase the global PHK business including a production site for milling in Wilkinson County, Georgia. Overall, 190 positions will be affected globally. BASF will work with affected employees to help locate other employment opportunities within the company or to provide the appropriate transition support.
In step with BASF’s strategy to actively manage its portfolio, this divestiture allows the kaolin business to focus on its leading position in the industrial segments. In addition, BASF will continue producing kaolin for process catalysts.
“We are taking an important step to improve the competitiveness of our kaolin business and further sharpen our focus on growth and core businesses,” said Dr. Shane Porzio, Vice President, Global Business Management of Kaolin for BASF. “We will work closely with Imerys to ensure a smooth transition for customers.”
BASF will toll for Imerys and provide other services during a short transition period to ensure continuity of supply for customers.
At BASF (basf.com), we create chemistry and have been doing so for 150 years. Our portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. As the world’s leading chemical company, we combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of about €74 billion in 2014 and over 113,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).