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Business
Israel Chemicals to buy Astaris
September 5, 2005
| A version of this story appeared in
Volume 83, Issue 36
Israel Chemicals has entered into a definitive agreement to buy Astaris, the joint venture owned by Solutia and FMC Corp., for $255 million. Astaris, which had revenues of $350 million in 2004, manufactures specialty phosphates, thermal phosphoric acid, and phosphorus chemicals for industrial use. The joint venture has major facilities in Missouri, New Jersey, Kansas, Illinois, California, and Brazil and about 570 employees. The deal is subject to certain approvals, including regulatory clearances from the U.S. bankruptcy court overseeing Solutia's Chapter 11 case.
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