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Clariant to buy BASF clay biz assets in $60 million sustainable bid

Published 12/28/2021, 01:20 AM
Updated 12/28/2021, 01:35 AM
© Reuters. FILE PHOTO: The logo of Swiss specialty chemicals company Clariant is seen at the company's headquarters in Pratteln, Switzerland August 9, 2017.  REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) - Swiss specialty chemicals maker Clariant said on Tuesday it would purchase assets from German competitor BASF in North America in a $60 million cash deal that will help grow its sustainable business.

Clariant said it expects to complete the purchase of the assets of BASF'S U.S. attapulgite business--one of the largest miners and producers of the clay material, which Clariant said can help remove contaminants in renewable fuel production--in the summer of 2022.

"This acquisition fits very well with our growth strategy to grow through sustainability-focused innovations and bolt-on acquisitions," Clarient Chief Executive Conrad Keijzer said in a statement, adding it would improve its position in renewable fuels purifications.

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