BASF to sell Inorganic Specialties business
FLORHAM PARK, NJ, and CLEVELAND, OH – BASF has entered into an agreement to sell its Inorganic Specialties business to Edgewater Capital Partners LP, Cleveland, OH.
Inorganic Specialties includes the Evans City, Pennsylvania USA production site and the Specialty Alcoholates, Boranes and Alkali Metals product lines which are produced at the site. The transaction is expected to be completed in the first quarter 2017, subject to regulatory approval and other customary closing conditions. Financial terms of the transaction are not being disclosed. About 80 employees will remain at the Evan City site and join Edgewater upon the closing.
“BASF will continue to meet all of its obligations to customers, suppliers and employees through the transition of the business to Edgewater,” said Heidi Alderman, Senior Vice President. “We are appreciative of the Inorganics Specialties business and the employees in Evans City, who have operated a safe and efficient manufacturing plant for 80 years.”
Comments