KMG completes acquisition of electronics chemicals business

30 March 2010 14:51  [Source: ICIS news]

TORONTO (ICIS news)--KMG Chemicals has completed its $25.7m (€19.1m) acquisition of General Chemical’s electronics chemicals business, the US specialty chemicals producer and distributor said on Tuesday.

The acquisition – announced last month – included a purification and processing facility for solvents used in the electronic chemicals business at Hollister, California, the company said.

The deal would help KMG expand its business in the wet process chemicals market, chief executive Neal Butler said.

“With this transaction, our electronic chemicals business will have over a 50% share of the US market for high purity acids, bases, etchants, and other custom formulated cleaning chemistries serving the semiconductor industry,” he said.

“We see opportunity for further growth in this business in North America, Europe, and in Asia,” he added.

The acquired business had revenues of about $59.4m in 2008 and $42.7m in 2009, KMG said.

($1 = €0.74)

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By: Stefan Baumgarten
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