For consideration of USD 60 million
BASF India announced that BASF SE, Germany (Ultimate Holding Company of BASF India) has reached an agreement to divest its manufacturing site in Quincy, Florida and the associated attapulgite business for a purchase price of USD 60 million to Clariant. The transaction is expected to close in 2022, subject to the approval of the relevant Competition Commission / Anti-trust Authorities.As part of the divestiture, BASF would also enter into a long-term supply agreement for attapulgite business with Clariant, that will allow BASF to continue to support and grow with its customers in the paints, coatings, and construction markets.
The attapulgite business, forms part of the Dispersions & Resins Division of Industrial Solutions Segment of BASF India Limited, and has generated net sales of approx. Rs. 7.09 crore during the financial year ended 31 March 2021.
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