Edgewater Capital acquires Evans City, PA site as part of the transaction.
BASF enters into an agreement to sell its Inorganic Specialties business to Edgewater Capital Partners LP, Cleveland, OH. Inorganic Specialties includes the Evans City, Pennsylvania production site and the Specialty Alcoholates, Boranes and Alkali Metals product lines, which are produced at the site. The transaction is expected to be completed in the first quarter 2017, subject to regulatory approval and other customary closing conditions. Financial terms of the transaction were not disclosed. 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,” says Heidi Alderman, senior vice president of BASF’s Intermediates business in North America.
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