Dumping the defoamers
21 May 2003
Vulcan Materials' subsidiary, Callaway Chemical Company, which operates under the name Vulcan Performance Chemicals, has entered into an agreement to sell its industrial water treatment and pulp and paper businesses to Kemira Oy, of Finland.
The subsidiary's revenue for 2002 was approximately $80 million and represents the majority of Vulcan's performance chemicals business.
The transaction with Kemira will include the sale of a Columbus, GA manufacturing plant and Research and Development facility, as well as manufacturing facilities in Shreveport, LA and Vancouver, British Columbia.
The product lines manufactured at these plants include emulsion polymers, defoamers, wet and dry strength resins and a variety of custom manufactured products.
It is anticipated that closing will occur in the next thirty to sixty days.
Earlier this year, Vulcan sold its Performance Chemicals municipal drinking water treatment and wastewater treatment businesses to Altma Corporation, a Houston, TX-based producer of water treatment chemicals and services.
