Chemical maker BASF is selling its global polyolefin catalysts business to technology firm W.R. Grace & Co.
The transaction includes technologies, patents, trademarks and the transfer of BASF’s production plants in Pasadena, Texas, and Tarragona, Spain. BASF’s approximately 170 global polyolefin catalysts employees will also transfer to Grace.
The acquisition includes Lynx-brand catalyst technologies that are used in production of HDPE and PP resins. The HDPE catalysts are used in slurry production, while the PP catalysts being acquired are used in slurry, bulk loop, stirred gas, fluid gas and stirred bulk production.
The terms of the deal have not been disclosed.
Headquartered in Columbia, Md., Grace is a supplier of polyolefin catalysts technology.
“This sale was the best course of action for both the catalysts division and for the long-term interests of the polyolefin catalysts business and its employees,” said Kenneth Lane, the president of BASF’s catalysts division. “With this divestiture, we will continue to sharpen our focus on key growth areas, including our chemical catalysts and refinery catalysts businesses.”
