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BASF SE

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Delayed Xetra  -  05/20 11:35:15 am EDT
48.85 EUR   -0.02%
05/18BASF doubles its production capacity for Irganox 1010 in Singapore
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Clariant to buy BASF clay biz assets in $60 million sustainable bid

12/28/2021 | 01:30am EDT
FILE PHOTO: Logo of Swiss specialty chemicals company Clariant is seen in Pratteln

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)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BASF SE -0.02% 48.85 Delayed Quote.-20.93%
CLARIANT AG 1.80% 18.12 Delayed Quote.-6.32%
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Financials
Sales 2022 82 947 M 87 506 M 87 506 M
Net income 2022 4 519 M 4 768 M 4 768 M
Net Debt 2022 16 637 M 17 552 M 17 552 M
P/E ratio 2022 9,67x
Yield 2022 7,09%
Capitalization 44 134 M 46 560 M 46 560 M
EV / Sales 2022 0,73x
EV / Sales 2023 0,75x
Nbr of Employees 110 828
Free-Float 100%
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Number of Analysts 24
Last Close Price 48,85 €
Average target price 64,21 €
Spread / Average Target 31,4%
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Managers and Directors
Martin Brudermüller Chairman-Executive Board
Hans-Ulrich Engel Chief Financial Officer
Kurt Wilhelm Bock Chairman-Supervisory Board
Melanie Maas-Brunner Chief Technology Officer
Anke Schäferkordt Independent Member-Supervisory Board
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