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Business
Asahi Glass Sells Catalysts
July 19, 2004
| A version of this story appeared in
Volume 82, Issue 29
Glass and chemicals producer Asahi Glass has agreed to sell to JGC its 49% stake in their catalyst business. The deal, worth about $80 million, will make the engineering firm the sole owner of the venture, named Catalysts & Chemicals Industries Co. Formed in 1958, CCIC produces a wide range of catalysts for the oil refining, petrochemical, and fine chemicals industries. Asahi Glass, a firm loosely associated with the Mitsubishi group of companies, says it is selling its stake to concentrate more fully on its core businesses.
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