BASF India’s ultimate holding company -- BASF SE, Germany has signed an agreement to divest its manufacturing site in Quincy, Florida and the associated attapulgite business for a purchase price of $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, and has generated net sales of approximately Rs 7.09 crore during the financial year ended March 31, 2021.
BASF India is a leading transnational company in the Indian chemical industry. The company's portfolio is organized into four segments: Chemicals Performance Products Functional Materials & Solutions and Agricultural Solutions.
Company Name | CMP |
---|---|
UPL | 552.15 |
BASF India | 4957.30 |
PI Industries | 3640.00 |
Bayer CropScience | 6105.55 |
Sumitomo Chemical India | 496.00 |
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