| UPDATE | 02.06.03 |
| BUSINESS ACQUISITIONS |
Chemetall Sells Glass Sealants and Resin Business to Kommerling Germany-based Chemetall GmbH has announced the sale of its glass division's sealants and casting resins business to Kommerling Chemische Fabrik GmbH, also located in Germany. An agreement has been signed and the transaction has been approved by the anti-trust authorities and is expected to be closed in June. Kommerling will acquire from Chemetall its Naftothermâ and Naftolanâ product lines, which comprise primary and secondary insulating glass sealants as well as casting resins for the glass industry. In addition, Kommerling will also gain the corresponding production facilities and staff at Langelsheim, where it will continue to manufacture insulating glass sealants and casting resins. According to Kommerling, the acquisition of Chemetall's insulating glass sealants and casting resins business is another step in its strategy of expanding its core competences and strengthening its position in international markets. Meanwhile, with its withdrawal from the major part of its glass business, Chemetall continues the strategic concentration on its core businesses of surface treatment, lithium and fine chemicals. Chemetall says that its transaction with Kommerling will not affect the glass processing auxillaries of Aachener Chemische Werke and easy-to-clean coatings for glass and other surfaces product lines, which will be managed by Chemetall's surface treatment division |
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