BASF has signed a contract to sell its global paper hydrous kaolin (PHK) business to Imerys, a leader in mineral-based specialty solutions for industry, based in Paris, France, as the company said in the press release received by Lesprom Network.
The divestiture is subject to approval by the relevant merger control authorities. Closing of the transaction is expected to take place during the 3Q 2015. The parties have agreed not to disclose the financial details of the transaction.
Imerys will purchase the global PHK business including a production site for milling in Wilkinson County, Georgia. Overall, 190 positions will be affected globally. BASF will work with affected employees to help locate other employment opportunities within the company or to provide the appropriate transition support.
In step with BASF’s strategy to actively manage its portfolio, this divestiture allows the kaolin business to focus on its leading position in the industrial segments. In addition, BASF will continue producing kaolin for process catalysts.