Pharma Industry
Industry: Email Alert RSS FeedOMG seeks partner for its precious metal segment. (News).(OM Group Inc.)
Chemical Market Reporter, November, 2002
AS PART of its overall restructuring, Cleveland-based OM Group Inc. (OMG) and its recently appointed financial advisor, Credit Suisse First Boston, are searching for a "financial partner" for the company's precious metals business. The segment consists of the assets the company acquired in August 2001 when it bought Degussa Metals Catalysts Cerdec ([dmc.sup.2]).
OMG picked up [dmc.sup.2] for $1.08 billion in cash, and then almost immediately sold [dmc.sup.2]'s electronic materials, performance pigments, glass systems and ceramics division to Ferro Corp. for $540 million. OMG held on to [dmc.sup.2]'s metal management, fuel cells, precious metal chemistry, technical materials, jewelry electroplating operations and its attractive auto catalysts segment. For...
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