BASF sells closed sterols manufacturing plant in Pasadena to Trecora Resources
Germany-based chemical firm BASF's US subsidiary has sold its former sterols manufacturing facility in Pasadena, Texas, to Trecora Chemical (TC), a provider of high-purity specialty hydrocarbons and waxes.
Financial details of the transaction have not been disclosed by both the parties.
BASF noted that its 6.5-acre plant is located adjacent to the 22-acre Trecora Chemical facility and will be integrated with TC.
The company closed the Pasadena plant in late last year and increased the extracted capacity of sterols production at its site in Boussens, France.
The facility includes production equipment that is similar to TC's, plus equipment that strengthens its capabilities and potential markets.
The plant also includes substantial storage capacity, several rail and truck loading sites and utility tie-ins to TC.
As the deal is now complete, Trecora will rehire some of the BASF operating personnel thereby filling open positions at TC.
Trecora Resources chief executive officer Simon Upfill-Brown said: "This plant expands and diversifies our revenue sources, positions TC to address new markets and allows manufacturing flexibility that will contribute to significant operating efficiencies, enhancing the value of the combined facilities."
TREC owns and operates a facility located in southeast Texas, which specialises in high-purity hydrocarbons and other petrochemical manufacturing.
The company also owns and operates a manufacturer of specialty polyethylene waxes and provider of custom processing services located in the heart of the Petrochemical complex in Pasadena, Texas.
BASF Nutrition & Health North America head Mark Wright said: "Sterols continue to be an important product range in our portfolio for human nutrition.
"The sale of the Pasadena facility to Trecora Resources will bring new vitality to the plant and community."
Separately, BASF has opened its new production plant for concrete admixtures in the northern province of B?c Giang, Vietnam.
It is designed to allow the company to better meet the increasing demands for high-quality construction chemicals products in Vietnam.