OM Group Announces Deal to Sell Ultra Pure Chemicals Business for $60M in Cash
OM Group, Inc. (NYSE: OMG) announced today it has signed definitive agreements to sell its Ultra Pure Chemicals (UPC) subsidiaries located in the United States, England and Singapore, and has simultaneously offered to sell its Ultra Pure Chemicals subsidiary located in France, to KMG Chemicals, Inc. (NYSE: KMG) for a combined price of $60 million in cash. The sale is expected to close before the end of June 2013, subject to customary closing conditions and regulatory approvals.
The UPC subsidiaries, which are included in the Company's Specialty Chemicals segment and had net sales in 2012 of $94 million, produce and supply unique ultra pure chemical solutions to the semiconductor and microelectronics industries in Europe, Asia and the United States.
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