BASF has entered into an agreement to sell its inorganic specialties business to Edgewater Capital Partners LP. The business reportedly includes the Evans City, Pa., production site and the specialty alcoholates, boranes and alkali metals product lines that are produced at the site. The transaction is expected to be completed in the first quarter of 2017. About 80 employees will remain at the Evans 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 of BASF’s intermediates business in North America. “Serving our customers will continue to be a key focus, and safety and quality remain core values. 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.”
“We are excited to have the Inorganic Specialties business join the Edgewater family,” said Robert Girton, principal, Edgewater Capital. “The business’ broad portfolio of products critical to chemical synthesis, depth and tradition in research and development, strong commitment to environmental, health and safety systems, and the unique capabilities of the site make it the global leader in reagent technology. We are eager to build on this platform and to partner with the significant expertise of the inorganic specialties team.”
For more information, visit www.basf.com.