- Aspen Aerogels Inc ASPN has terminated its supply arrangement with BASF SE's BASFY BASF Polyurethanes.
- With the execution of the amendment to the supply agreement, Aspen has assumed direct responsibility for the commercialization of Spaceloft A2.
- Effective December 15, 2021, BASF no longer sells aerogel products covered under the supply arrangement, and Aspen Aerogels retains all rights to sell the products.
- "While sustainable building materials constitute a smaller portion of our overall revenue, Aspen is positioned for strong 2021 revenue and will carry solid momentum going into 2022," commented Don Young, Aspen's President and CEO.
- Price Action: ASPN shares closed lower by 4.23% at $50.90, and BASFY shares closed at $17.43 on Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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