Clariant to Buy BASF's US Attapulgite Business Assets for $60 Million
December 28 2021 - 1:55AM
Dow Jones News
By Olivia Bugault
Clariant AG said Tuesday that it has signed definitive
agreements to buy the U.S. attapulgite business assets of BASF SE
for $60 million.
The transaction should be completed next summer and will be paid
in cash, the Swiss chemicals group said.
BASF's attapulgite business has operations in Georgia and
Florida, Clariant said.
In 2020, it generated sales of about $36 million.
"The transaction will accrete to the natural resource's Ebitda
[earnings before interest, taxes, depreciation, and amortization]
margin profile and will support Clariant on its path towards its
recently announced 2025 targets," the company said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
December 28, 2021 01:40 ET (06:40 GMT)
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