GenTek Announces Acquisition of Bay Chemical and Supply Company
Posted on: Wednesday, 2 January 2008, 09:00 CST
GenTek, a provider of inorganic chemical products and the manufacture of personal-care products, and valve-train systems and components for automotive engines, has announced that its wholly-owned subsidiary, General Chemical, has acquired Bay Chemical and Supply Company, a producer of water treatment chemicals in Odem, Texas.
The purchase price of the transaction is $7 million before any working capital adjustments.
Vincent Opalewski, vice president and general manager of General Chemical, said: "This transaction expands our customer base in the Texas market, adds new products to our portfolio of water treatment chemicals and allows us to drive incremental savings through our raw material sourcing arrangements."
William Redmond, GenTek's president and CEO, said: "This acquisition fits well with our stated objective to invest in the company's core assets, chemical and auto/truck valve train systems, to accelerate GenTek shareholder value creation."
Source: Datamonitor
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