Abstract
Crompton Corp has agreed to sell OSi Specialties, its organosilicones business, to General Electric Co (GE) in exchange for US$645 million in cash and GE’s Specialty Chemicals business, valued at $160 million. OSi will be combined with GE’s existing silicones business, part of GE Specialty Materials. Depending on how the new combined business performs, Crompton will also receive between $105 million and $250 million from GE in the form of quarterly payments for three years after the deal closes. The transaction is subject to regulatory approvals and is expected to close in the third quarter. This is a short news story only. Visit www.adcomp.com.com for the latest additives and compounding industry news.
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