Macon, Ga.-based KaMin LLC, a top exporter of kaolin clay used in paper, paints and many other products, is set to buy the kaolin minerals business of BASF, the German chemical giant.
The arrangement calls for KaMin to take control of the kaolin processing mines, mills and reserves in Georgia, which features some of the richest deposits in the world, while BASF’s Performance Chemicals division will continue to own and operate refinery catalyst operations on-site. They are not included in the deal, which is expected to close during the second half of 2022, pending regulatory approvals..
The financial details of the transaction are not being disclosed, though BASF noted in a release that its kaolin minerals business had 440 employees and €155 million (about $174 million) in revenue in 2020.
BASF said the divestiture is part of its plan to better its portfolio with its business strategy, its executives noting that for KaMin, a subsidiary of Georgia-baed IMin Partners, kaolin is a core business. The deal includes Georgia mining sites in Daveyville, Toddville, Edgar and Gordon, as well as reserves and mills in Toomsboro and Sandersville.
KaMin, which also owns Brazil-based CADAM S.A. and its related production sites in the Amazon basin, as well as production facilities in Belgium, is a key customer of the Georgia Ports Authority, at one point exporting more than 60 percent of its capacity through containers destined for markets all over the world.