MANUFACTURERS – JANUARY 2020

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Germany’s BASF SE projects a third quarter 2020 closing on the $3.5 billion sale of its Construction Chemicals unit to an affiliate of Lone Star, a global private equity firm with offices in Frankfurt and New York. A subject of speculation since a late-2018 BASF announcement of plans to shop the business, the transaction will include Master Builders concrete admixture and sister brands deeply rooted in construction, maintenance and retrofit. With more than 7,000 employees, the BASF Construction Chemicals business operates production sites and sales offices in more than 60 countries and generated sales of about $2.8 billion in 2018.

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IronPlanet, Cat auction pinpoint synergies in pending merger

IronPlanet, a leading online marketplace for buying and selling used heavy equipment and trucks, and Associated Auction Services LLC, an alliance of Caterpillar Inc. and a group of its dealers operating as Cat Auction Services, anticipate finalizing a merger agreement—announced late last year—during the first quarter. The combined business will afford used heavy construction equipment buyers and sellers a unique auction experience, officials note, backed by unmatched technology and services.

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