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.
Top 5 News that Sticks for November 27-December 2
1. BASF to Sell Specialties Business (#5 last week)