The Chemours Company, a global chemistry company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, announced today that it completed the sale of its Clean and Disinfect business—part of its Chemical Solutions segment—to LANXESS for approximately $230 million in cash on August 31, 2016.
“Today’s announcement is another illustration of the successful execution of our five-point transformation plan,” said Mark Vergnano, Chemours president and CEO. “In just one year, we completed the sale of our aniline facility as well as the sale of our Sulfur Products and Clean and Disinfect businesses. These actions have generated approximately $695 million of total gross proceeds, reflecting a 10-to-12 times EBITDA multiple on those divestitures.”
The Clean and Disinfect Business, with approximately $110 million in combined revenue, is a set of leading oxidation chemistry businesses focused on providing innovative cleaning and disinfection solutions for a wide range of industrial, consumer, animal and human health applications. The product portfolio is organized into three primary categories: Disinfectants, Oxone® and Chlorine Dioxide.
Source: The Chemours Company
Sika AG (Baar, Switzerland) has opened a new plant in Santa Cruz de la Sierra, thus doubling its production capacity for mortar and concrete admixtures in Bolivia. With this new facility in one of the country’s main industrial agglomerations, Sika is positioning itself for continued growth in the dynamic Bolivian construction market.
Chevron Corporation (NYSE: CVX) and Renewable Energy Group, Inc. (NASDAQ: REGI) (REG) announced on Monday a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share.
Lotte Chemical Corp. will invest 10 trillion won ($8 billion) on hydrogen and battery materials through 2030 to achieve annual revenue of 50 trillion won and carbon neutrality. The Korean chemical producer on Thursday unveiled its new corporate vision outlining key corporate strategies with focus on growth through hydrogen energy and battery materials businesses.
