DuPont, OCI Deal Nixed.(E.I. DU PONT DE NEMOURS & Co. and OCI Chemical Corporation terminate sales of DuPont's Memphis, Tenn. and Maitland, Ontario-based hydrogen peroxide business)

Chemical Market Reporter, July, 1998

E.I. DU PONT DE NEMOURS & Co. and OCI Chemical Corporation will not go through with the sale of DuPont's Memphis, Tenn. and Maitland, Ontario-based hydrogen peroxide business that was originally scheduled to close at the end of June. The transaction was terminated "due to the fact that we could not reach a final agreement with our lender," says Christopher Fraser, president and CEO of OCI.

The two facilities the company planned to acquire would have a combined annual capacity of 110,000 metric tons. OCI only produces soda ash in this country, but its parent company, Oriental Chemical Industries, has long produced peroxide in Korea.