BASF India’s parent company ‘BASF SE, Germany’ has signed an agreement with EP Minerals, a worldwide leader in industrial minerals, to sell its Bleaching Clay and Mineral Adsorbents business, part of BASF’s catalyst’s business, subject to receipt of requisite approvals, if any. The transaction is expected to close in the third quarter of 2017.
Bleaching Clay and Mineral Adsorbents business is the part of Process Catalysts business of the company. The Process Catalyst business which forms part of the Functional Materials & Solution segment of the company caters to the petroleum refining, petrochemicals and downstream base and fine chemicals business. During the calendar year 2016, the Bleaching Clay and Mineral Adsorbents business generated income of Rs 3.23 crore.
EP Minerals is a worldwide leader in diatomaceous earth, clay and perlite. These unique industrial minerals are used as filter aids, absorbents and functional additives for a variety of industries including food and beverage, biofuels, swimming pool, oil and gas, farm and home, landscape, sports turf, paint, plastics and insecticides.
With this divesture, BASF will continue to sharpen its focus on key growth areas including its Chemical & Refinery catalysts businesses.
BASF India is a chemical manufacturing company. It operates in the business segments of agricultural solutions, performance products, plastics businesses and chemicals. The agricultural solutions include insecticides, herbicides, fungicides and specialties.
