Pharma Industry
Industry: Email Alert RSS FeedGreat Lakes to Buy FMC PAD.
Chemical Market Reporter, May, 1999
GREAT LAKES CHEMICAL Corporation and FMC Corporation have signed a definitive agreement for Great Lakes to purchase FMC's process additives division (PAD), which posted sales of $160 million in 1998. The $159 million cash transaction broadens Great Lakes' polymer additives platform and than doubles the industrial segment of its water treatment business (story, page 1).
"This acquisition is a perfect strategic fit, one that exceeds every criteria by which we evaluate acquisition opportunities," says Mark Bulriss, Great Lakes president and CEO. "It immediately opens new avenues of growth for our two largest business units, polymer additives and water treatment. Roughly 70 percent of PAD's 1998 sales are derived from non-halogen flame retardants and...
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