Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Omnova To Buy Eliokem From AXA

by Marc S. Reisch
September 27, 2010 | A version of this story appeared in Volume 88, Issue 39

Omnova Solutions has signed an agreement with AXA Private Equity to acquire French specialty chemical maker Eliokem for $300 million. Omnova says the buy will boost its annual sales to more than $1 billion and make it a more diverse specialty chemical maker. The purchase will also join chemical operations that were formerly part of two tire firms: Omnova was spun out of GenCorp in 1999, and Eliokem was once part of Goodyear Tire & Rubber. The U.S. private equity firm Littlejohn & Co. acquired Eliokem from Goodyear in 2001 for an undisclosed sum. AXA picked up Eliokem in 2006 for about $165 million. Eliokem makes coating resins, elastomer modifiers, and antioxidants and has annual sales of about $270 million.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.