Elementis acquires Hi-Mar Specialty for $33 million

DELDEN, THE NETHERLANDS: Elementis Specialties Inc has agreed to purchase the assets of Hi-Mar Specialty Chemicals, a US coatings additives company, for a cash consideration of $33 million. The acquisition of Hi-Mar will further expand the company’s product and technical service offering in these high value segments. The transaction was signed and closed on 19 February 2013 and is expected to be earnings enhancing in the current year.

“The acquisition of Hi-Mar Specialty Chemicals broadens our capabilities in value added, higher margin defoamer markets. Our two businesses share a common commitment to serving customers with innovative solutions and technologies, and Hi Mar’s complementary product portfolio, customer service culture and the opportunity to leverage newly acquired technologies globally make it an excellent addition to our Specialty Products business,” said David Dutro, Chief Executive, Elementis.

© WOC News