BASF has reached an agreement to divest its manufacturing site in Quincy, Florida and the associated attapulgite business for a purchase price of US$60M to Clariant. The Quincy mining facility employs around 75 employees and manufactures clay-based mineral products used in a variety of industrial applications. BASF’s attapulgite business generated sales of approximately US$36M in 2020. The transaction is expected to close in the summer of 2022, subject to the approval of the relevant competition authorities.
BASF acquired the site as part of the Engelhard acquisition in 2006. It is operated by the Dispersions & Resins division of BASF. Based on an in-depth review, it was determined that the future of the site and the attapulgite business would be best secured by a divestiture to a company with experience and expertise in mining.
“BASF divests the site in Quincy and at the same time enters into a long-term supply agreement for attapulgite with Clariant, that will allow us to continue to support and grow with our customers in the paints, coatings, and construction markets which are core to the success of our business,” said Denise Hartmann, Senior Vice President of BASF’s Dispersions & Resins business in North America.