FLORHAM PARK, NJ -- BASF has entered into a definitive agreement to divest its surfactants manufacturing site in Clear Lake, TX, in an asset sale to Clear Lake Chemicals LLC (CLC) of Pasadena, TX. CLC is a wholly owned subsidiary of Gulf Bayport Chemicals LP. Completion of the divestiture is expected to be completed by Dec. 31, 2009.
The divestiture includes the sale of the site and manufacturing equipment. It does not include the products manufactured at the site. As part of the agreement, BASF will transfer approximately 15 employees to CLC.
“The asset sale of the Clear Lake manufacturing site is part of BASF’s ongoing manufacturing asset review. The sale of this site is another step in our process to realign our business to ensure long-term profitable growth,” said Simon Medley, Group Vice President, Care Chemicals and Formulators, for BASF in North America. “BASF believes that the long-term interests of this site and its employees will be better served as part of the CLC organization.”
BASF has reached a concurrent toll-manufacturing agreement with CLC for production of specialty surfactants at the site. This will enable BASF to continue to supply its customers with products from the same manufacturing location after divestiture.
Specialty surfactants are marketed by the Care Chemicals and Formulators business group under the following brand names: Jordapon, Avanel, Maphos, Larostat, Klearfac, Mazon, Mafo, Mazox, Pluracoat M-Quat, Maslip, Mazeen and Mazox. Products are sold into several strategic markets including coatings, construction, agricultural and personal care.
Report Abusive Comment