Arch Chemicals Completes Sale of Sulfuric Acid Business
Arch Chemicals, Inc. completed the sale of substantially all of the net assets of its sulfuric acid business to Peak sulfur, Inc. on July 2, 2003. Relevant terms of the transaction will be disclosed at a later date. The Sulfuric Acid business had sales of approximately $34 million in 2002.
The net assets of Arch's Sulfuric Acid business include manufacturing facilities in Shreveport, Louisiana and Beaumont, Texas. These facilities provide both virgin sulfuric acid and acid regeneration services to Gulf Coast oil refineries, which use the acid in the alkylation process of making gasoline. The sulfuric acid is also used by other industries including pulp and paper and water treatment.
Arch Chemicals' Chairman, President and CEO Michael Campbell said, "This divestiture is part of our strategy to focus our business portfolio and to redeploy resources to pursue growth opportunities in our two key growth platforms, Treatment Products and Microelectronic Materials, including possible complementary acquisitions."
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