THE WHAT? BASF has signed an agreement to sell its kaolin minerals business to KaMin for an undisclosed sum. The transaction is expected to close in the second half of 2022.
THE DETAILS Part of the Performance Chemicals unit, the kaolin minerals business spans North America, Europe and Asia with 440 employees in total. It generated sales of approximately €155 million in 2020.
The deal covers the production hub and related mines, reserves and mills and excludes the co-located refinery catalysts operations.
THE WHY? Markus Kamieth, Member of the Board of Executive Directors of BASF, responsible for the Industrial Solutions segment, commented, “We have made another important step to focus BASF’s portfolio in line with our corporate strategy and found a new owner for whom kaolin minerals are a core strategic business.”