|
Air Products sells semiconductor chemicals business to KMG Chemicals |
|
|
|
Oct 24, 2007 at 05:10 PM |
|
 KMG Chemicals has entered into a definitive agreement to acquire the High-Purity Process Chemicals (“HPPC”) business from Air Products and Chemicals that had revenues in the last 12 months of approximately $90 million for $74.6 million.
“We expect this transaction to close on or about December 31, 2007, approximately half-way through our current fiscal year,” stated Neal Butler, President and CEO of KMG. “On that timeline, and taking into account the significant integration costs, the HPPC business should be immediately accretive to earnings, contributing towards our stated goal of double digit EPS growth for fiscal 2008. The acquisition will contribute in a much more significant way for the complete fiscal 2009, particularly post-integration.”
The acquisition includes a state-of-the-art production facility and warehouse in Pueblo, CO. Also included in the acquisition are a manufacturing facility and warehouse near Milan, Italy supplying HPPC products to European manufacturers.
|
News 
