Canadian Finishing and Coatings Manufacturing

January 11th, 2022

CFCM Clariant BASF 400Clariant announced that it has signed definitive agreements to acquire BASF’s U.S. Attapulgite business assets for USD 60 million in cash, including signing 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 various applications and end markets. BASF’s business is recognized for its 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 North American market. Clariant offers 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. They play a crucial role in removing contaminants during the pretreatment, 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 integrate into Clariant’s Functional Minerals Business Unit. Clariant is pleased to welcome 75 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. It will support Clariant on its path towards its recently announced 2025 targets. Customary closing actions, including merger notification and clearance filings and real estate title work, are anticipated to close the transaction in summer 2022.

Source

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