BASF to Sell Manufacturing Site in US
By Joshua Kirby
BASF SE said Thursday that it has agreed to sell a manufacturing
site in Illinois to an affiliate of private-equity firm One Rock
Capital Partners LLC.
The German chemicals company said it will also sell the
businesses associated with the Kankakee manufacturing site. The
businesses, which produce vegetable-oil-based raw material sterols,
natural vitamin E, anionic surfactants and esters, employ around
160 employees, BASF said. The company added that the site is no
longer considered a strategic fit.
The transaction is expected to close in the first half of 2021,
subject to regulatory approval in the U.S. The company disclosed no
financial details of the deal.
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(END) Dow Jones Newswires
December 17, 2020 11:16 ET (16:16 GMT)
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