AD HOC ADVERTISEMENT UNDER ART. 53 LR
The acquisition of BASF‘s we Attapulgite bcommercial assets for USD 60 million in cash
Strengthens Clariant Technology first position in the edible oil purifications and renewable fuels
BASF‘s Attapulgite Business assets at expanding the North American footprint
Im align with Clariant’s targeted acquisition strategy and emphasis on sustainability
MUTENZ, DECEMBER 28, 2021
Clariant, a focused, sustainable and innovative specialty chemicals company, today announces that it has signed definitive agreements to acquire BASF’s US business assets of attapulgite for US $ 60 million in cash , including the signing of a long-term supply agreement for attapulgite-based products for BASF. The acquisition is subject to customary closing conditions and is expected to be finalized 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 company manufactures attapulgite-based products for a wide variety of applications and end markets. BASF’s company is well recognized in the industry for its unique combination of mineral quality, size of mineral reserves and strategic location.
Clariant is a technological leader in the purification of edible oils and renewable fuels. The transaction will significantly increase the Business Unit’s production capacity in North America, thereby improving the ability to participate in the attractive North American market. Clariant offers unique technology for the purification of biodiesel, which reduces greenhouse gases in road transport, 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 such as used cooking oil, tall oil, tallow, animal fats and distillery corn oil, is an attractive growth market. Adsorbent clays are a crucial catalyst for growth as they play a key role in removing contaminants during pretreatment, thus protecting the catalyst and allowing a stable and economically viable process.
“This acquisition fits perfectly with our growth strategy of growing through innovations focused on sustainable development and targeted acquisitions. This acquisition will further expand the footprint of our Functional Minerals business in North America and further enhance Clariant’s position in the purification of renewable fuels, ”said Conrad Keijzer, CEO of Clariant. “Clariant is already considered a leader in sustainability and technology today and this acquisition will further enhance Clariant’s position in the purification of renewable fuels. “
Structured as an asset transaction with a cash purchase price of $ 60 million, the transaction includes the transfer of land and mineral rights, processing facility and inventories, which will be integrated into the Functional Minerals Business Unit. by Clariant. Clariant is pleased to welcome 75 highly qualified and dedicated employees. BASF’s Attapulgite business generated approximately $ 36 million in revenue in 2020. The transaction will increase Natural Resource’s EBITDA margin profile and support Clariant on track to its recently announced 2025 targets. The usual closing actions, including merger notifications and authorization filings as well as work on real estate titles, are expected to result in the transaction closing in the summer of 2022.
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This press release contains certain statements which are neither published financial results nor other historical information. This document also includes forward-looking statements. Since these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed or implied by the statements. Many of these risks and uncertainties relate to factors that are beyond Clariant’s ability to accurately control or estimate, such as future market conditions, currency fluctuations, the behavior of other market participants, actions of government regulators and other risk factors such as: the timing and strength of new product offerings; competitor pricing strategies; the Company’s ability to continue to receive adequate products from its suppliers on acceptable terms, if at all, and to continue to obtain sufficient financing to meet its liquidity needs; and changes in the political, social and regulatory environment in which the Company operates or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, on a global, regional or national basis . Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. Clariant does not undertake to publish revisions to these forward-looking statements to reflect events or circumstances subsequent to the date of these documents.
Clariant is a focused and innovative specialty chemicals company based in Muttenz near Basel / Switzerland. As of December 31, 2020, the company employed a total of 13,235 people. In fiscal 2020, Clariant recorded sales of CHF 3.860 billion from continuing operations. The company operates in three business areas: care chemicals, catalysis and natural resources. Clariant’s corporate strategy is guided by the overarching goal of ‘deeper chemistry – between people and the planet’ and reflects the importance of connecting customer focus, innovation, sustainability and people. .