BASF to sell Illinois site
BASF has agreed to sell its manufacturing site in Kankakee, Illinois and the associated businesses of vegetable-oil-based raw material sterols and natural vitamin E, anionic surfactants and esters to private equity firm One Rock Capital Partners. Terms are not being disclosed. Subject to regulatory approval, this should be completed in 1H 2021.
The site, which is operated by the Nutrition & Health and the Care Chemicals divisions, came with the acquisition of Cognis in 2010 and it now employs about 160. BASF regarded Kanakee as no longer a strategic fit. The company continues to produce anionic surfactants for the home care, personal care and industrial formulation sectors at other sites.