BASF is to sell its kaolin minerals business, which is part of the Performance Chemicals division and is regarded as non-core, to Georgia-based minerals company KaMin. This is expected to close in 2H 2022, subject to approval by the relevant merger control authorities. The business employs about 440 people and had sales of around €155 million in 2020.
BASF has agreed to partner with China’s SVOLT on the supply of cathode active materials (CAMs), R&D into sustainable battery materials and the ultimate recycling of battery cells. They will also assess joint upstream resourcing to strengthen the security of raw material supply. Financial terms were not disclosed.
Ten major global chemical sector companies have agreed with the World Economic Forum (WEF) to establish what they called “a breakthrough, pre-competitive development platform to accelerate net-zero climate technologies”. They are BASF, Dow, DSM, Solvay, Clariant, Covestro, Mitsubishi Chemical, Air Liquide, Sabic and Sibur.
BASF and Sinopec are to further expand their verbund site operated by their BASF-YPC joint venture at Nanjing, adding capacity in several downstream plants for speciality chemicals. These will come onstream in 2023. Precise details were not disclosed. The products involved are:
* Propionic acid, a mould inhibitor for the preservation of food and feed grains, which is also used in the production of pharmaceuticals, crop protection agents, solvents and thermoplastics
As rumoured last month, BASF and private equity investor Clayton, Dubilier & Rice (CD&R) have exited their joint ownership of paper and water treatment chemicals company Solenis, by selling it to Platinum Equity. Solenis will be merged with Platinum’s existing subsidiary Sigura, creating a player in water treatment with $3.5 billion/year in sales.
The Organisation for Economic Co-operation & Development (OECD) has approved the world’s first toxicology testing strategy without animal testing. This can now be used to test for skin sensitisation and any products that pass can be placed on the market.
The strategy, which consists of three ‘alternative’ methods, was jointly developed and validated over ten years by BASF and Givaudan, in partnership with various companies and scientific institutions, notably IIVS. It is claimed to have better predictivity for human allergy risks than traditional animal testing.
According to a report on Bloomberg that cited unnamed people involved, BASF and its private equity partner, Clayton Dubilier & Rice (CD&R), are considering an exit from water treatment specialist Solenis and have been in talks with several special purpose acquisition companies. A price in the region of $5 billion is reportedly being sought. Neither party has commented on this speculation.