NeuAG LLC, The Woodlands, Texas, reports that it has completed a debt financing agreement with funds managed by Oaktree Capital Management LP to assist in funding the construction of a $90 million ammonium sulfate storage and distribution facility in Freeport, Texas. Previously announced in May 2020, NeuAG will become BASF Corp.’s new exclusive partner to distribute and market ammonium sulfate, which comes from BASF’s caprolactam production. Construction of the new facility, which will be adjacent to the existing BASF complex in Freeport, began in September 2020.
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