Engelhard bought out by world&8217;s leading chemical company

Published 12:00 am Wednesday, June 14, 2006

Engelhard, originally Alcoa, then Almatis is now under the control of BASF. BASF, the world&8217;s leading chemical company, is based in Florham Park, N.J., and is the North American affiliate of the BASF group located in Ludwigshafen, Germany.

&8220;BASF has taken effective control of Engelhard and just started the integration process between the two,&8221; Engelhard Corporation Communication Director Ted Lowen said.

The transaction of 110,456,159 shares, approximately 89 percent of Engelhard&8217;s outstanding common stock, was acquired by BASF after the June offer. Of those shares, 18,464,174 shares, representing approximately 15 percent of outstanding company stock, were put up as a security in the transaction. Lowen said information on the changes that might occur within the Vidalia plant is incomplete at this time, but felt working together would be the first focus. &8220;It&8217;s too early to tell, but the operating groups of Engelhard was what BASF was most interested in,&8221; he said. &8220;This will have no immediate impact on Engelhard.&8221; Established in the early 1980s, the Vidalia plant offers products including alumina-based absorbents and purification catalysts for the natural gas, petrochemical, compressed air and hydrogen peroxide markets. BASF employs approximately 10,000 people throughout North America and has two companies located in Geismar and one in Shreveport.

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BASF product range covers the entire spectrum of chemicals, coatings, plastics and health and nutrition products. BASF operates nearly 40 companies throughout the United States, Canada and Mexico.

Blake Hall, manager of Engelhard in Vidalia, could not be reached for comment.