BASF selling a catalysts business to W.R. Grace

BASF, which has its U.S. headquarters in Florham Park, has agreed to sell its global polyolefin catalysts business to W.R. Grace & Co., it announced recently.The deal for the business, part of the German company’s catalysts division, includes technologies, patents and trademarks, as well as the transfer of two production plants and about 170 employees around the world, BASF said.

“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,” Kenneth Lane, president of BASF’s catalysts division, said in a prepared statement.

Terms of the transaction were not disclosed. It is expected to be completed in the third quarter, pending customary approvals and conditions.

“With this divestiture, we will continue to sharpen our focus on key growth areas, including our chemical catalysts and refinery catalysts businesses,” Lane added.