BASF has recently signed a deal to sell its flocculants business for mining applications to Solenis, a global producer of speciality chemicals headquartered in Wilmington, Delaware.
The company said, “We have been informed by BASF SE, Germany (Ultimate Holding Company of BASF India Ltd) that globally BASF has signed an agreement on July 17, 2024 with Solenis, a global producer of speciality chemicals headquartered in Wilmington, Delaware, to sell BASF’s flocculants business for mining applications. The divestment of BASF’s flocculants business to Solenis is part of BASF’s global portfolio optimization, aiming to focus on core strategic areas. The transaction is expected to close in the second half of 2024, subject to the approval(s) of the relevant Competition Commission / Anti-trust authorities.”
Solenis is a global manufacturer of speciality chemicals for water-intensive sectors such as pulp and paper, oil and gas, chemical processing, mining, biorefining, power generation and municipal markets. The corporation has 69 production plants and employs approximately 16,000.
As of 10:42 am, BASF shares were trading 0.53% lower at ₹5602.44.
