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

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.

(Reporting by Brenna Hughes Neghaiwi; Editing by Riham Alkousaa)