BASF sold its former sterols manufacturing facility in Pasadena, Texas, to Trecora Chemical (TC), a wholly owned subsidiary of Trecora Resources, a leading provider of high purity specialty hydrocarbons and waxes.
Both parties agreed not to disclose financial details of the transaction, which closed today. The 6.5-acre BASF plant is adjacent to the 22-acre Trecora Chemical facility, and will be integrated into TC.
The purchase includes production equipment that is similar to TC’s, plus equipment that broadens TC’s capabilities and potential markets. The site also includes substantial storage capacity, several rail and truck loading sites and utility tie-ins to TC. Trecora will rehire some of the BASF operating personnel thereby filling open positions at TC. “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,” said Trecora Resources’ Chief Executive Officer Simon Upfill-Brown.
BASF closed the Pasadena plant in late 2015 and increased the extracted capacity of sterols production at its site in Boussens, France. “Sterols continue to be an important product range in our portfolio for human nutrition,” said Mark Wright, head of BASF Nutrition & Health North America. “The sale of the Pasadena facility to Trecora Resources will bring new vitality to the plant and community.”
Source: Trecora Resources and BASF
Neste will provide Avfuel with SAF in volumes able to meet the growing demands of Avfuel’s customers, including fixed base operators (FBOs), airports, flight departments, original equipment manufacturers (OEMs) and commercial operators.
Operation of the plant is a joint enterprise between Borealis, TOMRA and Zimmermann. Borealis is responsible for the plant’s commercial success and contributes its expertise and knowledge in innovation, recycling and compounding.
Johnson Matthey announces that Stephen Oxley will join the company’s board on 1st April 2021 as Chief Financial Officer (CFO).